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Old 03-09-2023, 10:20 AM
manaboutown manaboutown is online now
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This is a cite from 2014 so not current. Probably a lesser ability to compensate savers exists today.

"The FDIC currently has far less money in its fund than it has insured deposits: as of Sept. 1, about $41 billion in reserve against $6 trillion in insured deposits. (There are over $9 trillion on deposit at U.S. banks, by the way, so more than $3 trillion in deposits is completely uninsured.) "

Is your money safe at the bank? An economist says ‘no’ and withdraws his | PBS NewsHour

This is more current and from the horse's mouth so to speak.

"The DIF balance has risen every quarter since the end of 2009, and stood at a record $119.4 billion on March 31, 2021, up from $110.3 billion at the end of 2019. The reserve ratio stood at 1.25 percent at March 31, 2021, down from 1.41 percent at the end of 2019."

From: FDIC: Insurance Program
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Last edited by manaboutown; 03-09-2023 at 10:40 AM.