New songs show customers at JPMorgan Chase, Wells Fargo and Bank of America stack money on unprotected accounts.
The quarterly call reports of the lenders, submitted to the Federal Financial Institutions Examination Council (FFIEC), show The Banks customers now have $ 2.62 trillion together in uninsured cash.
American banks and the FDIC promise promise customers who deposit an amount of $ 250,000 will always be treated in the case of a collapse – but everything that is far too much is not insured.
That makes trillions in danger – money from companies, pensioners and families who can disappear from one day to the next if a bank fails.
According to the Federal Deposit Insurance Corporation (FDIC), uninsured deposits at American banks grew in the fourth quarter of 2024 by all groups of assets, based on reports of 4,487 by FDIC insured institutions.
Non -insured deposits rose by $ 126.6 billion, which considerably exceeds the increase in the insured deposits of $ 43.7 billion in the same period.
In 2023, the FDIC protected all uninsured deposits of the disastrous, sudden failure of Silicon Valley Bank (SVB) by calling on a systemic risk-specialization, so that no losses are guaranteed despite $ 100 billion plus in uninsured funds.
With smaller banks such as Republic First Bank, which failed in July last year, did not make insured deposits and received only partial recovery of the sale of assets because no systemic risk was explained.
The growth of uninsured deposits coincided with strong winstalls in the banking sector, with a reported total net result of $ 66.8 billion.
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