Federal Deposit Insurance Corporation (FDIC)

The Federal Deposit Insurance Corporation is a federal agency that protects investors against losses due to bank failures. Deposits in qualified accounts at FDIC-backed institutions are insured for up to $250,000 (or $500,000 for joint accounts) per depositor at each bank. Qualified accounts include savings, money market and certificate of deposit accounts. Other accounts, such as brokerage accounts, are not covered even if they are offered by an FDIC-participating institution.