"FDIC insurance is backed by the full faith and credit of the United States government." [1]
Given that FDIC insurance is backed by the United States government, if the FDIC system is unable to cover its losses, wouldn't that represent the United States defaulting on its obligations?
I'm not saying that's impossible, but it seems like FDIC could represent a...pretty large bit of money.
"FDIC insurance is backed by the full faith and credit of the United States government." [1]
Given that FDIC insurance is backed by the United States government, if the FDIC system is unable to cover its losses, wouldn't that represent the United States defaulting on its obligations?
I'm not saying that's impossible, but it seems like FDIC could represent a...pretty large bit of money.
[1] From: https://www.fdic.gov/deposit/deposits/faq.html