The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that insures deposits in U.S. banks and thrifts up to $250,000 per depositor. The FDIC was created by the Banking Act of 1933, in response to the Great Depression, to restore public confidence in the banking system.

The FDIC insures deposits in all FDIC-insured banks, including commercial banks, savings banks, and savings and loans. To be FDIC-insured, a bank must meet certain requirements, such as maintaining a certain level of capital and liquidity.

If an FDIC-insured bank fails, the FDIC will pay depositors up to $250,000 for their insured deposits. This means that even if a bank fails, depositors will not lose their money.

The FDIC also examines and supervises FDIC-insured banks to ensure that they are operating safely and soundly. The FDIC also works to make large and complex financial institutions resolvable, and manages receiverships.

The FDIC is funded by premiums paid by banks and thrifts. The FDIC is a vital part of the U.S. financial system, and it helps to protect depositors and promote stability in the banking system.