Skip to comments.FDIC Notice of Coverage Expiration For Noninterest-Bearing Accounts
Posted on 12/03/2012 1:44:49 PM PST by ExxonPatrolUs
Snip... For example, if after the expiration of the Dodd-Frank Deposit Insurance Provision a depositor under the single ownership category has $500,000 deposited in a noninterest-bearing transaction account and $250,000 deposited in a certificate of deposit, or total deposits of $750,000, the depositor would be insured for up to $250,000 and uninsured for the remaining balance of $500,000. ...Snip
(Excerpt) Read more at fdic.gov ...
Smells like the FDIC is limiting their exposure in anticipation of TSHTF.
This expiration has been scheduled for quite some time now.
Now what am I going to do with all my money?
Actually that makes sense. The idea is to encourage large depositors to spread their deposits amongst various institutions to help mitigate the risk.
Of course it worked better before they started allowing them to gobble-up each other in M&A deals.
Good post; comment & tagline. BTTT!
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