Because the FDIC has lifted the $250K ceiling, that means that Deposit Insurance Fund will be covering everything. It is an insurance fund that all FDIC member banks pay into to cover these situations. This means that all of the banking industry will pay for this failure, and that premiums will be going up. If there isn't enough in the DIF to cover the deposits, the FDIC has the ability to borrow directly from the Fed or to issue debt.
Because the FDIC has lifted the $250K ceiling, that means that Deposit Insurance Fund will be covering everything. It is an insurance fund that all FDIC member banks pay into to cover these situations. This means that all of the banking industry will pay for this failure, and that premiums will be going up. If there isn't enough in the DIF to cover the deposits, the FDIC has the ability to borrow directly from the Fed or to issue debt.
Wonder how deep this fund is