FDIC proposes reforms to US deposit insurance system.
TL;DR Summary
The Federal Deposit Insurance Corp. (FDIC) has recommended that the US replace its decades-old policy of insuring up to $250,000 in bank deposits with a targeted overhaul that would allow regulators to cover higher amounts. The proposal would offer business account coverage at higher levels than ordinary consumer deposits receive. The move comes as the FDIC contends with the third US bank failure this year, and aims to calm both depositors and markets.
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- FDIC calls for higher deposit insurance cap for businesses CNN
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