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The FDIC generally likes to do this on Fridays so they can reopen the bridge bank and everyone can access their funds on Monday. If you're under the insurance l
by VagueMag 3y ago
The FDIC generally likes to do this on Fridays so they can reopen the bridge bank and everyone can access their funds on Monday. If you're under the insurance limit you're almost certainly fine.
- zamnos 3y ago> If you're under the insurance limit you're almost certainly fine. If you're under the insurance limit of $250k per type of account and not fine, the whole world will find ourselves with some much larger problems to solve.
- VagueMag 3y agoYes, it's still a very unlikely scenario but the TGA running low and debt ceiling brinkmanship at the same time banks are going under does make me think there's some nonzero chance of some insured depositors in some banks having to wait awhile for their funds. But yes, low probability at the moment.
- dehrmann 3y ago> If you're under the insurance limit JP Morgan isn't.