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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.

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 / November 18, 2020

Banking With Apps

Event / October 16, 2020

Consumer Research Symposium

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

Quarterly Net Income says '$51.2 billion' and an area chart graphic that shows a general increase

Quarterly Net Income

The banking industry reported quarterly net income of $51.2 billion during the third quarter, a 10.7% decline from a year ago.

5,033 FDIC Insured Banks as of the third quarter 2020

Number of Insured Banks

For the 5,033 commercial banks and savings institutions, aggregate net income totaled $51.2 billion in third quarter 2020, a decline 10.7% from a year ago.

An up arrow, text that says '+$1.8 Billion'

DIF Funding

The Deposit Insurance Fund (DIF) balance was $116.4 billion on September 30, up $1.8 billion from the end of last quarter.

Text that says '$7.3 billion'

Community Bank Growth

Community banks reported quarterly net income of $7.3 billion in the second quarter, an increase of 10% from a year ago.

Text that says '+1.30%' and a blue area chart graphic starting in 2007 and ending at the end of the Q3, 2020

DIF Reserve Ratio

The reserve ratio—the amount in the DIF relative to insured deposits—remained at 1.30% on September 30. Since this was less 1.35%, the FDIC Board adopted a Fund Resolution Plan.

Text says '56 banks' and a graph starting in 2008 and ending in 2020 in a generally declining slope

Number of “Problem Banks”

The number of banks on the FDIC’s “Problem Bank List” increased from 52 to 56 during the quarter.