Ep.27 - FDIC Insurance & Protecting Your Accounts: Insured vs. Uninsured Deposits
Episode Description
How do you ensure your money is as safe when a bank collapses? Why is diversification key in your banking portfolio? And what exactly does the repo window have to do with bank's solvency?
In an industry where 47% of deposits are uninsured and recent failures like Silicon Valley Bank have shaken confidence, we discuss the important role of the FDIC in monitoring, auditing, and even deciding the future of banks.
We talk about the different account types, from joint to trust accounts, and the changes in trust law that might affect your coverage.
Key Topics:
Using the EDIE calculator to determine the insurance on your accounts.
Coverage limits for various account types.
The creation and role of FDIC.
Links mentioned in the show:
To find out your FDIC coverage, use the calculator mentioned in the podcast- https://edie.fdic.gov/calculator.html
Disclaimer: The information provided in this podcast is for general informational purposes only and should not be construed as professional financial advice. Always consult with a qualified financial advisor or professional before making any financial decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.