Friday 24 March 2023

[Post 230] Why This Sign Is in Front of Banks | WSJ


The Federal Deposit Insurance Corporation was created from the Banking Act of 1933 to prevent the bank runs seen during the Great Depression. With Silicon Valley and Signature Banks, the FDIC is doing what it was designed to do—cover insured deposits.

But it’s taken its promise even further, saying it will protect even the uninsured. Here’s how the FDIC works. 

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