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In: Economics

FDIC deposit insurance covers the depositors of a failed FDIC-insured depository institution dollar-for-dollar

FDIC deposit insurance covers the depositors of a failed FDIC-insured depository institution dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default, up to at least $350,000.

True

False

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Expert Solution

Correct Answer:

False

The limit is up to $250000. So, the given limit in the question of $350000 is not correct.

Rahul Sunny answered 2 years ago
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