Submitted by Powerpuff_Rangers t3_11t0ty4 in news
Jeremycycles t1_jchdcee wrote
Reply to comment by InteractionNOVA2021 in First Republic in talks with major banks about a rescue plan by Powerpuff_Rangers
False, the FDIC is not backed by the treasury but they do invest in treasury securities. The FDIC is completely funded by member banks.
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