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. The FDIC insures deposits, examines and supervises financial institutions for safety, soundness, and consumer protection, makes large and complex financial institutions resolvable, and manages receiverships. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. The FDIC insures deposits up to $250,000 per depositor as long as the institution is a member firm. The FDIC provides tools, education, and news updates to help consumers make informed decisions and protect their assets. The FDIC also provides extensive resources for bankers, including guidance on regulations, information on examinations, legislation insights, and training programs. The FDIC receives no funding from the federal budget. Instead, it assesses premiums on each member and accumulates them in a Deposit Insurance Fund (DIF) that it uses to pay its operating costs and the depositors of failed banks.