Understanding What the FDIC Protects


The Federal Deposit Insurance Corporation (FDIC) protects the money depositors place in insured banks in the unlikely event of an insured-bank failure. The standard deposit insurance amount is $250,000 per depositor, per FDIC-insured bank, per ownership category.

The Federal Deposit Insurance Corporation is an independent agency of the United States government that was established in 1933 to provide deposit insurance to depositors in case their bank fails. See how the FDIC protects BancFirst’s depositors and the banking system overall.

What is deposit insurance?

FDIC deposit insurance covers all types of deposits held at an insured bank. The FDIC provides separate insurance coverage for funds depositors may have in different categories of legal ownership. The FDIC refers to these different categories as “ownership categories.” This means that a bank customer who has multiple accounts may qualify for more than $250,000 in insurance coverage if the customer’s funds are deposited in different ownership categories and the requirements for each ownership category are met. To learn about insurance coverage of the accounts you own, we encourage you to use the insurance estimator calculator provided by the FDIC: Electronic Deposit Insurance Estimator (EDIE).

How does the FDIC protect depositors?

If a bank fails, the FDIC will step in and pay the insured depositors up to the insured amount. This means that depositors will not lose their money, and they will have access to it even if their bank fails. The FDIC also works to prevent bank failures by monitoring and examining banks to ensure that they are operating safely and soundly.

How does the FDIC protect the banking system?

The FDIC protects the banking system by promoting stability and public confidence in the financial system. The FDIC does this by providing deposit insurance, monitoring and examining banks, and resolving failed banks. When a bank fails, the FDIC will step in and take over the bank's assets and liabilities. The FDIC will then work to sell the failed bank or merge it with another bank. By resolving failed banks, the FDIC helps maintain stability in the financial system and prevent bank runs.

Your money is safe with BancFirst!

The FDIC plays a critical role in protecting depositors and the banking system. By insuring deposits, supervising banks, resolving failed institutions, managing deposit insurance funds, and promoting financial education, the FDIC helps ensure that depositors have confidence in the banking system and that the system is able to weather various economic shocks. For more information about FDIC insurance please visit: www.fdic.gov.


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