Explainer: What is the FDIC’s deposit insurance fund used to backstop failed banks?
The Federal Deposit Insurance Corp (FDIC) and its flagship deposit insurance fund have been active since the Great Depression to provide an orderly resolution for failed banks and to reimburse certain customer accounts. The FDIC said on Monday it would backstop a deal for regional lender First Citizens BancShares (FCNCA.O) to acquire failed Silicon Valley Bank (SIVB.O), triggering an estimated […]
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