What insures depositors' savings from loss in case of a bank failure?

Depositors' savings are insured from loss in case of a bank failure primarily through the Federal Deposit Insurance Corporation (FDIC) in the United States. The FDIC protects individual depositors by insuring deposits up to $250,000 per depositor, per insured bank, for each account ownership category. This insurance helps maintain public confidence in the banking system, ensuring that depositors can recover their funds even if their bank fails. Similar insurance schemes exist in other countries, providing comparable protections.