Which agency insures bank deposits?

• A. Federal Deposit Insurance Corporation
• B. Securities and Exchange Commission
• C. Social Security Administration
• D. Central Intelligence Agency

Answer: (A)

The main idea is knowing which agency protects bank deposits in the United States. That protection comes from the Federal Deposit Insurance Corporation. The FDIC provides insurance for deposits at most banks, so if a bank fails, you’re reimbursed up to a set limit. This coverage includes checking and savings accounts, money market deposit accounts, and many certificates of deposit, up to $250,000 per depositor per insured bank. This system helps keep people confident in using banks and maintains stability in the financial system. The Securities and Exchange Commission regulates the securities markets, not bank deposits; the Social Security Administration handles benefits like retirement and disability; and the Central Intelligence Agency deals with intelligence and national security, not banking deposits.