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Up to $250k per account yes. The bank would fail but you'd get it over the weekend.
by astrange 11mo ago
Up to $250k per account yes. The bank would fail but you'd get it over the weekend.
- dingaling 11mo agoThe FDIC currently holds a reserve of 1.28% of deposits. It can handle a single bank run, but not a widespread one.
- astrange 11mo agoThey don't usually touch the reserve. They tell a bigger bank to buy them over the weekend and back it up. Afterwards they can use that, charge the other member banks or reopen: https://www.federalreserve.gov/financial-stability/bank-term-funding-program.htm https://www.federalreserve.gov/financial-stability/bank-term...