The Federal Deposit Insurance Corporation (FDIC) is an independent US government agency that provides deposit insurance to protect depositors in the event of a bank failure. The FDIC was created in 1933 in response to the banking crisis of the Great Depression. The FDIC also supervises and regulates certain financial institutions to ensure their safety and soundness. The FDIC website provides information on deposit insurance, consumer protection, bank data and statistics, and banking regulations. The website's goal is to assist depositors, bankers, and other stakeholders in understanding the FDIC's role and responsibilities.

In the FDIC's history, no customer has ever lost a single penny of insured deposits.fdic.govThroughout its history, the FDIC has provided bank customers with prompt access to their insured deposits whenever an FDIC-insured bank or savings association has failed.

This provides insurance on up to $250,000 per depositor as of 2021. 1 While your money might be safe in a savings account, the interest rate is likely quite low.thebalancemoney.comThe safety of your money in most bank accounts comes from being insured by the Federal Deposit Insurance Corporation (FDIC).

The FDIC would insure commercial bank deposits of $2,500 (later $5,000) with a pool of money collected from the banks. Small, rural banks were in favor of deposit insurance.history.comThe Banking Act established the FDIC. It also separated commercial and investment banking and for the first time extended federal oversight to all commercial banks.