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Today, there is at least $7 trillion in uninsured bank deposits in America.
This dollar value is roughly three times that of Apple’s market capitalization, or about equal to 30% of U.S. GDP. Uninsured deposits are ones that exceed the $250,000 limit insured by the Federal Deposit Insurance Corporation (FDIC), which was actually increased from $100,000 after the Global Financial Crisis. They account for roughly 40% of all bank deposits.
In the wake of the Silicon Valley Bank (SVB) fallout, Visual Capitalist's Dorothy Neufeld and Sabrina Lam look at the 30 U.S. banks with the highest percentage of uninsured deposits, using data from S&P Global.
To read more visit Zero Hedge.
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