FYInance

Posts Tagged ‘fdic insurance’

I am single and have a significant amount of cash in an account that only has 0,000 FDIC coverage. Should I open accounts in other banks to spread the FDIC insurance?

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I have questions about the FDIC and how much money it really has. I see in the news all the time these days that these banks and those banks are being helped. Since the FDIC is helping many of the failing institutions, will the FDIC have enough money to insure personal accounts? Is there a risk of the FDIC running out of funds and money to insure regular accounts that it usually insure? Since I do not know the extent of the FDIC’s assets (and have no clue where to find that information) – I kinda worry that personal bank accounts may be uninsured due to lack of funds by the FDIC. Is it possible that this could happen?