Accounts Quote by Nick Clooney
“What the F.D.I.C. does is to put the full faith and credit of the United States government behind every savings account in the nation, up to a limit that has changed over the years and stands now at $100,000.”
About This Quote
Source Speech: Public Explanation of FDIC Insurance, United States, 2023
The statement outlines that the FDIC guarantees deposits up to $100,000, backed by the U.S. government, and that the limit has changed over time.
In simple terms: FDIC protects bank deposits up to $100k, guaranteed by the government.
Key Takeaway
Know your deposit insurance limits.
Themes
finance
government
security
Mood
practical
reassuring
Type
informative
advisory
When to use this quote
- banking
- personal finance
- risk management
Key Concepts
insurance
guarantee
Questions to Reflect On
- Do you keep funds within insured limits?
- What happens if the limit changes?
A Different Perspective
Coverage may not protect all assets.
![“What we have now - a world without [marine] reserves - is like a debit account where we withdraw all the time and we never make any deposit. Reserves are like savings accounts.” quote by Enric Sala](https://sms4smile.com/quotes/img-quotes/dc6/enric-sala-33009_accounts_what-we-have-now-a-world-without-marine_1184906.jpg)
