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chewyxrage
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transaction account guarantee expiration FDIC counterparty risk
TAG accounts are business accounts that are non-interest bearing accounts which are fully insured by the FDIC up to unlimited amounts. Many big businesses use these accounts for payroll.
For example, you can put $10Million+ in one account in one bank and have it fully FDIC insured. The non-renewal of this vehicle will cause massive cash movements.
On one hand, imo, this a step in the right direction. Back to normalcy instead of the Fed guaranteeing everything everywhere.
Other hand, If you and I had a small private bank with one or two of these huge depositors, the withdrawal of that money would be a hard hit.
TAG accounts are business accounts that are non-interest bearing accounts which are fully insured by the FDIC up to unlimited amounts. Many big businesses use these accounts for payroll.
For example, you can put $10Million+ in one account in one bank and have it fully FDIC insured. The non-renewal of this vehicle will cause massive cash movements.
On one hand, imo, this a step in the right direction. Back to normalcy instead of the Fed guaranteeing everything everywhere.
Other hand, If you and I had a small private bank with one or two of these huge depositors, the withdrawal of that money would be a hard hit.
