Federal Deposit Insurance Corporation

US government agency providing deposit insurance

The Federal Deposit Insurance Corporation (FDIC) aims to keep people’s money safe. Specifically, the money people put into American banks. If money is lost they will replace it. The FDIC will replace up to $250,000 per person, per bank. As of September 30, 2012 the FDIC insured 7,895 different banks or institutions.[2] The FDIC also watches banks or institutions for problems or failings.

Federal Deposit Insurance Corporation
Agency overview
FormedJune 16, 1933; 90 years ago (1933-06-16)
JurisdictionFederal government of the United States
HeadquartersWashington, D.C.
Employees8,713 (December 2012)[1]
Agency executives

The FDIC was made during the Great Depression by President Franklin Roosevelt in June 1933. This is an important occurrence in United States history because it guaranteed people their money. This also helped people feel safer when using banks in the United States.

Sources change

  1. "Statistics At A Glance". FDIC. Archived from the original on 27 June 2012. Retrieved 8 June 2012.
  2. "fdic key statistics". Archived from the original on 2010-06-04. Retrieved 2010-06-03.

Other websites change