Instituto para la Proteccion al Ahorro Bancario

The Instituto para la Proteccion al Ahorro Bancario (IPAB) is the Mexican federal government institution responsible for administering bank deposit insurance, established in 1998 as successor to the earlier Fondo Bancario de Proteccion al Ahorro (Fobaproa). It automatically and at no cost guarantees bank deposits, including checking accounts, savings accounts, certificates of deposit and debit-card-linked accounts, up to 400,000 investment units (UDIs) per saver, with a stated mission to protect small and medium savers and resolve troubled banks at the lowest possible cost while supporting the stability of Mexico's banking system and payments infrastructure.