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In FR's case, 63-68% (I can't remember the exact number) of all accounts that withdrew were over the 250k limit.
by xeromal 4y ago
In FR's case, 63-68% (I can't remember the exact number) of all accounts that withdrew were over the 250k limit.
- dymk 4y agoFDIC is not a "Limit up to $250k", it's "At least $250k", and the FDIC has in all cases made accountholders whole even past $250k.
- xeromal 4y agoThat is an unreasonable assumption for a company that has their payroll in an account for instance. It would be idiotic not to move it.
- peter422 4y agoIt is also amazing that is you look at the deposit numbers, almost none of the FDIC protected money moved, whereas almost all of the non-FDIC money went elsewhere. Maybe they erred in allowing all that FDIC uninsured money, but somebody would have to!
- xeromal 4y agoSounds like the people that could, stayed, while the ones who couldn't take the risk left. I'm a FR client and kept my money in because I'm under the limit. I wouldn't blame anyone who was over the limit for leaving.