Skip Header
U.S. flag

An official website of the United States government

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.

Learn More

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.

FDIC Chairman State Visits

As part of her Trust through Transparency initiative, Chairman McWilliams is meeting with stakeholders in every state. In her first 18 months as Chairman, she visited bankers, state officials, community groups and other stakeholders in 30 states. Since the pandemic, Chairman McWilliams has continued state visits virtually. Click on states in the map below to follow her travels.

Circular icon that indicates states visitedStates Visited

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

Consumer News / January 7, 2022

Saving For Retirement

Consumer News / December 10, 2021

Overdraft and Account Fees

Event / November 30, 2021

Quarterly Banking Profile

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

Quarterly Net Income says '$69.5 billion' and an area chart graphic that shows a general increase

Quarterly Net Income

The banking industry reported quarterly net income of $69.5 billion during the third quarter, a 35.9% increase from a year ago.

4,914 FDIC Insured Banks as of the second quarter 2021

Number of Insured Banks

For the 4,914 commercial banks and savings institutions, aggregate net income totaled $69.5 billion, an increase of 35.6 from a year ago.

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

DIF Funding

The Deposit Insurance Fund (DIF) balance was $121.9 billion on September 30, up $1.4 billion from the end of last quarter.

Text that says '$8.6 billion'

Community Bank Growth

Community banks reported quarterly net income of $8.6 billion in the third quarter, an increase of 19.6% from a year ago.

Text that says '+1.27%' and an area chart graphic starting in 2007 and ending at the end of the Q2, 2021

DIF Reserve Ratio

The reserve ratio—the amount in the DIF relative to insured deposits—remained at 1.27% for the third quarter. A Fund Resolution Plan was adopted in September 2020.

Text says '46 banks' and a graph starting in 2008 and ending in 2021 in a generally declining slope

Number of “Problem Banks”

The number of banks on the FDIC’s “Problem Bank List” declined to 46 during the quarter.