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About. The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system.

What is the main purpose of the FDIC? To protect customer deposits from loss, since they are the main source that FI's use to provide financial services.

Some examples of FDIC ownership categories, include single accounts, certain retirement accounts, employee benefit plan accounts, joint accounts, trust accounts, business accounts as well as government accounts. Q: Can I have more than $250,000 of deposit insurance coverage at one FDIC-insured bank?

It is important to emphasize that a depositor does not hold accounts in different ownership categories by opening accounts of different deposit product types (CDs, savings accounts or checking accounts, for example).

The FDIC provides resources to educate and protect consumers, while working to revitalize communities. These resources provide practical guidance on how to become a better user of financial services, make informed financial decisions, and protect against financial scams and fraud.

Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank?it's how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

ACCOUNT OWNERSHIP CATEGORIES ? Single accounts ?12 C.F.R. § 330.6. ? Joint accounts ? 12 C.F.R. § 330.9. ? Revocable trust accounts ?12 C.F.R. § 330.10. ? Irrevocable trust accounts ?12 C.F.R. § 330.13. ? Certain retirement accounts ?12 C.F.R. § 330.14(b)(2) ? Employee benefit plan accounts ? 12 C.F.R. § 330.14.