Which U.S. government agency insures deposits in banks and thrifts up to $250,000 per depositor?

The U.S. government agency that insures bank and thrift deposits up to $250,000 per depositor is the Federal Deposit Insurance Corporation (FDIC).

Congress created the FDIC in 1933 during the banking crisis of the Great Depression. Its deposit-insurance system was designed to restore public confidence after waves of bank failures had caused depositors to lose savings. The FDIC is an independent federal agency, and its insurance is backed by the full faith and credit of the United States government.

The $250,000 limit applies per depositor, per FDIC-insured bank, and per account ownership category. Coverage is automatic for eligible deposit accounts such as checking accounts, savings accounts, money market deposit accounts and certificates of deposit.

The limit does not mean every account at one bank is simply capped at $250,000. Separate ownership categories—such as single, joint and certain retirement accounts—may receive separate coverage. Stocks, bonds, mutual funds and crypto assets are not FDIC-insured.