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> No, FDIC means you get paid up to $250,000 per insured account immediately Any amount over that you are not guaranteed to be able to withdraw. The first half
by rcme 4y ago
> No, FDIC means you get paid up to $250,000 per insured account immediately Any amount over that you are not guaranteed to be able to withdraw.
The first half is what FDIC insurance means. The FDIC helps distressed banks in a variety of ways, including insuring deposits under $250K, but typically all depositors are made mostly whole again.
- aioprisan 4y ago> but typically all depositors are made mostly whole again Typically, but no guarantee. And on what time frame, nobody knows.
- mixdup 4y agoTypically the FDIC finds another institution to buy the distressed bank, and backstops losses on bad assets. They were not able to do that in this case I suspect many depositors will be taking losses in this failure
- pirate787 4y agoIndyMac depositors got 50 cents on the dollar above the insured amount in the 2008 collapse. https://www.ocregister.com/2009/03/20/depositor-losses-final-at-indymac-2/ https://www.ocregister.com/2009/03/20/depositor-losses-final...