The Federal Deposit Insurance Corporation (FDIC) was established as an independent government corporation under the authority of the Banking Act of 1933, also known as the Glass- Steagall Act (P.L. 73-66, 48 Stat. 162, 12 U.S.C.) to insure bank deposits. This report discusses recent actions taken by the FDIC in support of housing and financial markets, including a temporary increase in deposit insurance as required by the Emergency Economic Stabilization Act of 2008 (P.L.