What does the Federal Deposit Insurance Corporation (FDIC) do?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by Congress to maintain stability and public confidence in the nation's financial system. The FDIC's primary functions include insuring deposits at banks and thrift institutions, examining and supervising financial institutions for safety and soundness, and managing receiverships of failed banks. By providing deposit insurance, the FDIC protects depositors by covering the balance of their accounts up to the insurance limit, thereby promoting trust in the banking system. It was established in 1933.
$37.1B
0.5%
How much does the Federal Deposit Insurance Corporation spend?
The Federal Deposit Insurance Corporation accounted for 0.5% of all federal spending in FY 2024.
Share of FDIC net spending compared to the top ten highest spending agencies in FY 2024
The Federal Deposit Insurance Corporation’s federal spending in FY 2024 was higher than in FY 1980.
Yearly federal net spending by FDIC, adjusted for inflation (2024 dollars), FYs 1980–2024
The Federal Deposit Insurance Corporation's share of federal spending in FY 2024 was higher than in FY 1980.
Percentage of federal budget dedicated to FDIC, FYs 1980–2024
How did the Federal Deposit Insurance Corporation spend its budget in 2024?
Federal government net spending isolated to FDIC, FY 2024
How many people work for the Federal Deposit Insurance Corporation?
The number of federal employees working for the Federal Deposit Insurance Corporation has decreased 20.8% since 2010.
Number of federal employees working for FDIC, September 2010–2024
Who leads the Federal Deposit Insurance Corporation?
The FDIC is led by a Chairman. The Chairman is nominated by the President and confirmed by the Senate. The Chairman is part of a five-member Board of Directors, including a Vice Chairman, Appointive Director, the Comptroller of the Currency, and the Director of the Bureau of Consumer Financial Protection.
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
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USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.