As of March 31, the U.S. Treasury’s Federal Deposit Insurance Corporation, known as FDIC, had $10.4 trillion in reserves, a fraction of the $27 trillion in deposits held by the U: $9.7 trillion.
The $9 trillion is just a fraction, however.
While the FDIC holds $10 trillion of the nation’s $27,600 billion in bank deposits, only $5 trillion of that total is actually insured by the bank holding company.
The rest of the money is held by a series of trust companies that have little or no real authority.
To make matters worse, the FDICA’s own rules for the safekeeping of these trust funds are so vague that even the FDICO’s own chief inspector general has said that the agency’s rules have been in place for decades and have no effect on bank safety.
For example, the rule requires that the FDOC must hold a minimum $10 million to invest in a trust fund that it is not authorized to dole out, and it says the fund must be used only for deposit-taking and “non-banking activities,” like investing in companies that are “not actively engaged in the investment of the Fund’s deposits.”
This is all a lot of information to sift through.
But the fact is that banks do not have the money they need to hold all of the deposit money they hold.
Instead, they have plenty of other assets that they can buy at low prices.
The FDIC’s own guidelines for safekeeping deposits say that it “must hold a certain percentage of the funds held by an insured depository institution or a trust company that is not an FDIC insured deposit agency.”
But this percentage is set by Congress.
In the absence of a statutory mandate, the money held by banks will likely be too risky to safely hold in a safekeeping account.
So what does this mean for depositors?
The U.K. government says that deposits in bank safekeeping accounts must be protected from any “unreasonable risk of loss or theft” because “there is no assurance that any of the depository institutions or trust companies will ever fail in their duties.”
In other words, the government says, the deposits in safekeeping savings accounts are safer than those held by most other deposits.
If you are a bank depositor, the good news is that you don’t have to worry about your money being lost.
The bad news is this: If you are an FDICO insured depot, the safest place to store your deposits is on your own account.
You should probably consider switching to a bank that is less likely to lose money.
If you’re an insured deposit company, your deposits are protected by the FDIA’s deposit insurance program.
This program is designed to protect your deposits against losses caused by fraud.
The U.C.L.A. study found that the average FDIC deposit insured depo held a balance of $2,400 in March.
But this is far less than the $10,000 required by the government.
And it is a fraction in comparison to the $5,000 that banks generally require to deposit their own deposits.
The real risk here is that depositors’ accounts are not safe enough.
The FDIC has set rules for safe keeping, but it has not set rules that will actually protect depositors from loss.
And even if FDIC regulations did make it easier to deposit your own money, the risk of losing your deposit would still be too great to be worth the effort.