FDIC Insurance

US officials are studying ways to temporarily expand FDIC insurance to all US depositors without needing to ask Congress to pass any legislation. Arthur Hayes retweeted the Reuters piece about them studying FDIC expansion and said, hmm, the answer will be very clear to them once another midsize bank who can't access bank term funding program fails. James At I Might Be Wrong on Twitter says, as far as I know, they can't guarantee all deposits about $10 trillion uninsured without Congress. FDIC's deposit insurance fund only has $128 billion in reserve. Total U.S. bank deposits are $19.5 trillion. There are 4,875 FDIC insured commercial banks, 85%