After 1989, which organization is responsible for insuring deposits in all federally chartered banks?

The Federal Deposit Insurance Corporation (FDIC) is the organization responsible for insuring deposits in all federally chartered banks, and this role has been in effect since its establishment in 1933. After the Banking Crisis of the Great Depression, the FDIC was created to restore public confidence in the banking system by ensuring the safety of deposits. This means that if a bank fails, the FDIC protects depositors by refunding their insured deposits, currently up to $250,000 per depositor, per insured bank.

This deposit insurance is crucial for maintaining stability within the financial system and ensuring that customers feel secure allowing their money to reside in banks. By performing this function, the FDIC helps prevent bank runs, where a large number of customers withdraw their funds simultaneously due to fears of bank insolvency. The Federal Reserve primarily manages monetary policy and regulates banking institutions, while the National Credit Union Administration oversees credit unions, and the Securities and Exchange Commission regulates the securities industry. These organizations serve different roles and do not provide deposit insurance for federally chartered banks, making the FDIC the correct answer.