Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation

Agency overview
Formed	June 16, 1933 (1933-06-16)
Jurisdiction	Federal government of the United States
Headquarters	Washington, D.C.
Employees	8,713 (December 2012)
Agency executives	Martin J. Gruenberg, Chairman Travis Hill, Vice Chairman
Website	www.fdic.gov

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. The FDIC also watches banks or institutions for problems or failings.

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.

Other websites

• Federal Deposit Insurance Corporation (official website)
• FDIC Statistics at a Glance Archived 2008-09-14 at the Wayback Machine (FDIC.gov)
• FDIC List of Failed Banks
• The Federal Deposit Insurance Reform Conforming Amendments Act of 2005
• History including Boards of Directors Archived 2017-06-28 at the Wayback Machine
• 60 Minutes - Your Bank Has Failed: What Happens Next? Archived 2013-05-11 at the Wayback Machine