Which U.S. federal agency insures eligible bank deposits through the FDIC?

The Federal Deposit Insurance Corporation insures eligible U.S. bank deposits through the FDIC.

Congress created the FDIC in 1933 during the banking crisis of the Great Depression. Its deposit-insurance system was designed to protect depositors if an insured bank failed and to strengthen confidence in the banking system.

FDIC coverage generally applies to qualifying deposit accounts at member banks, including checking accounts, savings accounts, and many certificates of deposit. Standard coverage is commonly limited to $250,000 per depositor, per insured bank, for each ownership category, although account structures can affect how limits apply.

The FDIC does not insure stocks, bonds, mutual funds, or ordinary cryptocurrency holdings. It also does not insure credit-card balances as deposits. The Federal Reserve is a separate institution with monetary-policy and banking-supervision responsibilities, while the Consumer Financial Protection Bureau focuses on consumer financial protection.