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About the FDIC

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.

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FDIC Chairman Jelena McWilliams

Jelena McWilliams

21st Chairman of the FDIC

Jelena McWilliams was sworn in as the 21st Chairman of the FDIC on June 5, 2018. Previously, Ms. McWilliams was executive vice president, chief legal officer, and corporate secretary for a regional bank; chief counsel on the U.S. Senate Banking, Housing and Urban Affairs Committee; assistant chief counsel on the U.S. Senate Committee on Small Business and Entrepreneurship; and an attorney at the Federal Reserve Board of Governors and in private practice. One of Chairman McWilliams' key initiatives at the FDIC is Trust through Transparency to make the FDIC more accessible, understandable, and responsive.

A Pledge to Visit Every State

As part of her Trust through Transparency initiative, Chairman McWilliams is meeting with stakeholders in every state. Click on states in the map below to follow her travels.

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Circular icon that indicates states visitedStates Visited

Icon for the Latest News section, showing a paper coming out of a laptop computer. Latest News

Icon for the Data and Insights section, showing a line graph and a bar chart. Data & Insights

Quarterly Net Income says '$55.2 billion' and a green area chart graphic that shows a general increase

Quarterly Net Income

The banking industry reported quarterly net income of $18.5 billion during the first quarter, a 69.6% decline from a year ago.

5,177 FDIC Insured Banks as of December 2019

Number of Insured Banks

For the 5,116 commercial banks and savings institutions, aggregate net income totaled $18.5 billion in first quarter 2020, a decline of $42.2 billion (69.6%) from a year ago.

An up arrow, text that says '+$1.4 Billion'

DIF Funding

The Deposit Insurance Fund (DIF) balance was $113.2 billion on March 31, up $2.9 billion from the end of last quarter.

Text that says '$25.8 billion'

Community Bank Growth

Community banks reported quarterly net income of $4.8 billion in the first quarter, a decline of 20.9% from a year ago.

Text that says '+1.41%' and a blue area chart graphic starting in 2007 and ending in 2019

DIF Reserve Ratio

The reserve ratio—the amount in the Deposit Insurance Fund relative to insured deposits—was 1.39% at the end of the quarter.

Text says '51 banks' and a purple graph starting in December 2009 and ending in December 2019 in a generally declining slope

Number of “Problem Banks”

The number of banks on the FDIC’s “Problem Bank List” increased slightly from 51 to 54 during the quarter.