FDIC

The Federal Deposit Insurance Corproation is the U.S. Government agency that insures funds at U.S. banks.¹ The FDIC guarantees up to $100,000 of insurance for bank accounts and up to $250,000 per bank for Individual Retirement Accounts (IRAs) per bank.²

Fast Facts

1. Created in 1933, during The Great Depression³
2. 1933: More than 4,000 banks failed³
3. 2008: 11 banks failed (As of September 7)⁴
4. Failed banks are closed on Friday, reopen Sunday under new ownership⁵
5. Guarantees at least $100,000 for bank accounts and $250,000 for retirement accounts^{2 6}
6. Does not secure stocks, bonds, hedge funds or other securities⁶

Related Pages on Mahalo

FDIC Bank Watch List | IndyMac Bank Failure | Charles Schumer | Fannie And Freddie Bailout | Fannie Mae | Freddie Mac | Mortgages | Subprime Mortgage Crisis | Bear Stearns | Lehman Brothers | First National Bank of Nevada

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