---
title: "Federal Deposit Insurance Corporation — Definition & Meaning"
description: "The Federal Deposit Insurance Corporation insures bank deposits and supervises financial institutions, ensuring public confidence in the U.S. banking system."
url: "https://modeldiplomat.com/learn/glossary/federal-deposit-insurance-corporation"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- The Federal Deposit Insurance Corporation is an independent U.
- S.
- What law created the FDIC and when?
- What is the current FDIC deposit insurance limit?
- Is the FDIC funded by taxpayers?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

The Federal Deposit Insurance Corporation is an independent U.S. agency created in 1933 that insures bank deposits and supervises financial institutions to maintain public confidence.

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In September 2008, the FDIC seized Washington Mutual—the largest bank failure in U.S. history—and brokered its sale to JPMorgan Chase, protecting depositors without loss.

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