What is the FDIC?

FDIC - The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least $250,000; by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.

An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds as a result of a failure. For more information, visit: Who is the FDIC?

Frequently Asked Questions

Q. Can I check to see if I have full deposit insurance on my bank accounts?

Answer: The FDIC's Electronic Deposit Insurance Estimator (EDIE) is an interactive application that can help you learn about deposit insurance and calculate the insurance coverage of your accounts.

Q. I have an IRA and a trust account for my children. How can I find out if they are insured?

Answer:  The FDIC provides specific information such as FDIC Guide to Calculating Deposit Insurance Coverage for Revocable and Irrevocable Trusts.

Q. I have several brokerage accounts with stocks and bonds. Are they FDIC-insured?

Answer: Insured Or Not Insured? is the FDIC guide to what is and is not protected by FDIC insurance. 

Q. How does the FDIC work with other deposit insurers around the world?

Answer: The FDIC participates with several international organizations. For a list and links to the organizations, please visit International Deposit Insurance.