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Response to hollysmom (Reply #9)

Thu Dec 31, 2015, 12:40 AM

10. It's backed by the full faith and credit of the US government.

If necessary they will borrow or print the money.

In addition, the FDIC is backed by the "full faith and credit of the United States government." This means that the resources of the U.S. government stand behind FDIC-insured depositors and, even if the FDIC loses all of its money due to bank failures, the federal government will cover any losses.

http://banking-law.lawyers.com/consumer-banking/the-fdic-can-it-go-bankrupt.html




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Ferd Berfel Dec 2015 OP
safeinOhio Dec 2015 #1
leveymg Dec 2015 #3
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leveymg Dec 2015 #5
hollysmom Dec 2015 #6
Nye Bevan Dec 2015 #8
hollysmom Dec 2015 #9
LineLineLineLineLineLineLineReply It's backed by the full faith and credit of the US government.
Nye Bevan Dec 2015 #10
hollysmom Dec 2015 #11
Nye Bevan Dec 2015 #13
rhett o rick Dec 2015 #17
Nye Bevan Dec 2015 #7
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jamzrockz Dec 2015 #15
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GummyBearz Dec 2015 #19
leveymg Dec 2015 #2
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Ferd Berfel Dec 2015 #18
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