FDIC: Protecting Your Deposits
About the FDIC
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation that provides deposit insurance to depositors in FDIC-insured banks.
The FDIC was created in 1933 in response to the banking crisis of the early 1930s. Today, the FDIC insures deposits up to $250,000 per depositor, per insured bank.
The FDIC is funded by assessments on FDIC-insured banks. The FDIC does not use taxpayer money to fund its operations or to pay deposit insurance claims.
FDIC's Mission
The FDIC's mission is to:
- Protect depositors' money
- Ensure a sound and stable banking system
- Promote public confidence in the banking system
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