Re:Launch HN: Financial Choice (YC S21) – Checking accounts ...
by rrrrrrrrrrrryan on Monday August 09, 2021 @10:51AM
(#28117659)
> The FDIC insurance fund only covers a tiny fraction of bank deposits
Isn't it $250,000 per customer?
It wouldn't be enough to save the bank if there was a run (because of accounts with huge balances), but it'd be enough to save most of the customers that need saving.
Re:Launch HN: Financial Choice (YC S21) – Checking accounts ...
by notyourday on Monday August 09, 2021 @12:23PM
(#28118810)
It is a per-signator per-bank per-type per-POD
Re:Launch HN: Financial Choice (YC S21) – Checking accounts ...
by Cola on Monday August 09, 2021 @10:56AM
(#28117719)
I wouldn’t say 250k per person per bank per account type is a tiny amount. Moving money from a bank account to the market is a significant increase in risk for all but the most wealthy.
Also banks are investing all of your money in highly illiquid risky assets (aka mortgages) so I don't see how this would ruin the economy or even meaningfully change the risk profile if adopted at a large scale.