3 ms·
The regulators actually lifted this cap recently, so it's now unlimited most places. But this is temporary from covid. They wanted people to have more flexible
by adammoelis 6y ago
The regulators actually lifted this cap recently, so it's now unlimited most places. But this is temporary from covid.
They wanted people to have more flexible access to their funds given given the macro environment.
- lyrrad 6y agoMy understanding is that the Federal Reserve seems to intend the lifting of the cap to be essentially permanent, despite the cap being lifted in the form of an "interim final rule". See the third question at the Fed FAQ here: https://www.federalreserve.gov/supervisionreg/savings-deposits-frequently-asked-questions.htm https://www.federalreserve.gov/supervisionreg/savings-deposi...
- adammoelis 6y agoOh cool I did not know that. Thanks for bringing this up
- Jommi 6y agoSuper interesting!