That decision was made to shore up confidence in the banking system, though a recent Gallup poll suggests nearly half of Americans remain worried about the money they have in the bank.
SVB and Signature each had high proportions of total deposits exceeding FDIC deposit-insurance levels - about 90 per cent. But regulators declared systemic risk exceptions for them, fully covering all the deposits. (In Canada, deposit insurance covers up to $100,000 for each of nine categories of eligible accounts, per CDIC-member institution.) The FDIC's standard deposit insurance amount is $250,000 US for each eligible deposit of each eligible type, per depositor. The FDIC has released a report outlining possible reforms to consider for U.S. Federal Deposit Insurance Corporation (FDIC), is seen in Washington, D.C.
