Oh, yes, I misread your question. Yes, unlimited if it’s non-interest bearing.
But even in interest bearing, there are individual investors who break up their cash reserves into multiple FDIC-insured accounts.
Not that the interest is that high these days.
Wonder if the Feds and FDIC are required to keep the “insurance” money (or a large percentage of it) in escrow or other assets just in case they need it. Probably not — betting that they are not required to follow the same laws that they require the private sector to follow.
Just a promise to pay like Social Security, etc.
And what happens if they default — just print more money I guess.
What a scam.