That makes sense. The market is there to make sure banks have enough to meet the reserve requirement. And if that requirement is too low... I guess that's why

That makes sense. The market is there to make sure banks have enough to meet the reserve requirement. And if that requirement is too low... I guess that's why we have the FDIC, and why banks pay into the insurance. And why 2008 wasn't as bad as the crash that led to its creation. It looks like the fund has $124 billion as of 2022. https://www.fdic.gov/news/press-releases/2022/pr22064.html https://www.fdic.gov/news/press-releases/2022/pr22064.html That doesn't sound like enough to do much more than cover $250k on all accounts, but I guess that's the idea.