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Why would anyone with less than $250K pull out their deposits? Seems like these "bank runs" only make sense for individuals worth more than $250K to get their "
by tppiotrowski 4y ago
Why would anyone with less than $250K pull out their deposits? Seems like these "bank runs" only make sense for individuals worth more than $250K to get their "uninsured" money out.
- triyambakam 4y agoHonest and naive question - how safe is the FDIC $250k? I have seen so many situations in life where the rule was one thing and the result was "well sorry, it didn't work that way this time"
- hnaccount_rng 4y agoIn theory? The cushion is about 1.2% or so of the total deposits [1]. In practice: Short of the federal government collapsing the 250k$ per depositor per institution will be paid. [1] https://www.fdic.gov/analysis/quarterly-banking-profile/fdic-quarterly/index.html https://www.fdic.gov/analysis/quarterly-banking-profile/fdic... unless I'm misunderstanding the number