Federal Deposit Insurance Corporation
US government agency providing deposit insurance
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this has been increased several times over the years. FDIC deposit insurance covers up to $250,000 per depositor, per FDIC-insured bank, for each account ownership category. FDIC insurance is backed by the full faith and credit of the government of the United States, and according to the FDIC, "since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds".
Deposits placed with non-bank fintech (financial technology) companies are not protected by the FDIC against failure of the fintech company. If the company places the money in an FDIC-insured bank account consumers are protected only under some conditions.
The FDIC is not supported by public funds; member banks' insurance dues are its primary source of funding. The FDIC charges premiums based upon the risk that the insured bank poses.
The public source identifies “Federal Deposit Insurance Corporation” as uS government agency providing deposit insurance. This brief keeps that definition visible, then builds a research path around Federal, Deposit and Insurance.
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A short description can identify a subject without explaining its stakes. For “Federal Deposit Insurance Corporation”, the useful work is to connect “uS government agency providing deposit insurance” to the records capable of establishing context and consequence.
Contemporary correspondence, administrative files and participant testimony can test how later narratives organized the event or institution. The source revision retrieved here is dated Sep 2, 2026. The linked authority identifier is Q1345065. VIAF identifies the subject as 159135220. The Library of Congress control number is n81013186. 3 of 6 selected statements include explicit references; 3 carry qualifiers and 2 use preferred rank. The first chronological checks are 1933.
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This entry incorporates text from “Federal Deposit Insurance Corporation” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.