What We Do
The mission of the Federal Deposit Insurance Corporation (FDIC) is to maintain stability and public confidence in the nation's financial system. In support of this goal, the FDIC:
An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. Learn more about the history of the FDIC.
The FDIC receives no Congressional appropriations - it is funded by premiums that banks and savings associations pay for deposit insurance coverage. The FDIC insures trillions of dollars of deposits in U.S. banks and thrifts - deposits in virtually every bank and savings association in the country.
Deposit Insurance
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Since the start of FDIC insurance on January 1, 1934, no depositor has lost a penny of insured funds as a result of a failure. The FDIC's Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts. The FDIC insures deposits only. It does not insure securities, mutual funds, or similar types of investments that banks and thrift institutions may offer. Learn more about deposit insurance.
Supervision & Examination
The FDIC directly supervises and examines more than 5,000 banks and savings associations for operational safety and soundness. Banks can be chartered by the states or by the Office of the Comptroller of the Currency. Banks chartered by states also have the choice of whether to join the Federal Reserve System. The FDIC is the primary federal regulator of banks that are chartered by the states that do not join the Federal Reserve System. In addition, the FDIC is the back-up supervisor for the remaining insured banks and savings associations.
The FDIC also examines banks for compliance with consumer protection laws, including the Fair Credit Billing Act, the Fair Credit Reporting Act, the Truth in Lending Act, and the Fair Debt Collection Practices Act, to name a few. Finally, the FDIC examines banks for compliance with the Community Reinvestment Act, which requires banks to help meet the credit needs of the communities they were chartered to serve.
Resolutions
To protect insured depositors, the FDIC responds immediately when a bank or savings association fails. Institutions generally are closed by their chartering authority - the state regulator or the Office of the Comptroller of the Currency. The FDIC has several options for resolving institution failures, but the most common is to sell the deposits and loans of the failed institution to another institution. Customers of the failed institution automatically become customers of the assuming institution. Most of the time, the transition is seamless from the customer's point of view.
Where We Are
The FDIC is headquartered in Washington, DC, and has established regional and field offices around the country.
Who We Are
The FDIC is managed by a five-person Board of Directors that includes the Comptroller of the Currency and the Director of the Consumer Financial Protection Bureau, all of whom are appointed by the President and confirmed by the Senate, with no more than three being from the same political party.
For more information about the FDIC’s mission and operations, please be sure to browse the additional information offered in the About section of this website.
Thank you for your interest in the FDIC.
FAQs
As of November 2023, Jay-Z has a net worth of $2.5 billion, according to Forbes. 2 Together, Jay-Z and his superstar wife Beyoncé have a combined net worth of about $3 billion.
What do we do song wiki? ›
"What We Do" is a song by American rapper Freeway. It was released on September 3, 2002, as the lead single from his debut studio album Philadelphia Freeway (2003). The song features American rappers Jay-Z and Beanie Sigel.
What was the first album of state property? ›
The group's first release was the State Property soundtrack in January 2002, which served as both the soundtrack to accompanying film released that same month and the group's debut album.
Who are the top 3 richest rappers? ›
The top 10 richest rappers include:
- Jay-Z – $2.5 Billion.
- Diddy – $1.4 Billion.
- Dr. Dre – $1.3 billion.
- Kanye West – $500 Million.
- Berner – $410 Million.
- Eminem – $350 Million.
- Pharrell – $270 Million.
- Drake – $250 Million.
Here's where the top five richest rappers stood in 2022, according to a report from former Forbes editor Zack O'Malley Greenburg: Jay-Z: $1.5 billion (October 2022) Diddy: $1 billion (October 2022) Ye: $500 million (October 2022)
Who sang the song What do I do? ›
"What'll I Do" is a song written by Irving Berlin in 1923. It was introduced by singers Grace Moore and John Steel late in the run of Berlin's third Music Box Revue and was also included in the following year's edition. 1923 Irving Berlin Music Corp., Warner Chappell Music, Inc.
Who invented song in this world? ›
No historical evidence exists to tell us exactly who sang the first song, or whistled the first tune, or made the first rhythmic sounds that resembled what we know today as music. But researchers do know it happened thousands of years ago. The earliest civilizations throughout Africa, Europe and Asia had music.
How old is song in the world? ›
The earliest fragment of musical notation is found on a 4,000-year-old Sumerian clay tablet, which includes instructions and tunings for a hymn honoring the ruler Lipit-Ishtar.
What is the oldest album in the world? ›
Sometime in 1889, Emile Berliner recorded the first album in the history of the world. Then, that record by the father of the gramophone was destroyed. Today, Patrick Feaster, a sound historian at Indiana University, recreated the album using just a printed photograph of the album.
Who has the best selling first album? ›
What Is the Most Successful Debut Album of All Time?
- Source. Ten. Pearl Jam's debut album, a cornerstone of the 1990s grunge movement. ...
- Source. Appetite for Destruction. ...
- Source. The Fame. ...
- Source. Please Please Me. ...
- Source. Whitney Houston. ...
- Source. Thriller. ...
- Source. The Miseducation of Lauryn Hill. ...
- Source. Backstreet Boys.
According to Nielsen Music, the project; which boasts features from Drake, JAY-Z, Cardi B and more earned 229,000 equivalent album units in the week ending Dec. 6. Additionally, of that number; 42,000 were in traditional album sales. The milestone marks the rapper's second chart-topping album.
Who is the richest singer in the world? ›
As of 2024, five music artists have reached the billionaire status on Forbes reports: Jay-Z leading the list with US$2.5 billion, and becoming the first hip-hop billionaire artist, followed by Rihanna (the first billionaire female artist), Taylor Swift—the first primarily billionaire artist on the basis of her music ...
Who is richer, Jay-Z or Beyoncé? ›
Beyoncé is worth $800 million less than her husband, Jay-Z, who is worth $1.3 billion, according to Celebrity Net Worth. She is worth, however, more than her fellow Destiny's Child members Kelly Rowland, who is worth $12 million, and Michelle Williams, who is worth $10 million, according to Celebrity Net Worth.
Is Taylor Swift worth more than Beyoncé? ›
Taylor Swift has a net worth of $740 million, and Beyonce is at $540 million. Other big name musicians on the list include Madonna, Dolly Parton, Celine Dion and Barbra Streisand.
Is Taylor Swift a billionaire? ›
The financial news outlet said she is the first artist to achieve billionaire status solely on the basis of her music, and estimated she has a $1.1 billion fortune.
