You are right. That's fair and an important distinction. FDIC insurance is, standard, $250,000 per depositor, per insured bank, for each account ownership cate

You are right. That's fair and an important distinction. FDIC insurance is, standard, $250,000 per depositor, per insured bank, for each account ownership category. [1] Brokerage balances are SIPC insured against brokerage defaults, but not a money market fund imploding. [2] [1] https://www.fdic.gov/resources/deposit-insurance/brochures/deposits-at-a-glance https://www.fdic.gov/resources/deposit-insurance/brochures/d... [2] https://www.sipc.org/for-investors/what-sipc-protects https://www.sipc.org/for-investors/what-sipc-protects