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Glass-Steagall act

The FDIC, SIPC, and other

 

Posted November 2010 - The FDIC loses $25 Billion in one Year. "According to the country one lives in and where one has his deposits, these can be guaranteed by National/Federal institutions up to a certain maximum amount"

As of June 2010, the FDIC is in the red for $ 15 billion.

This is how the banks are melting away...


Updated May 2010 -


Updated December 2009, the FDIC itself needs to be rescued: Ratio for September is - 0,16 !

NEW YORK (CNNMoney.com) ó The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday.

Testifying before members of the Senate Banking Committee, the nationís top commercial bank regulator stressed that her agency was taking immediate steps to replenish the dwindling fund. But she said those efforts would not put the rescue fund in the black until a little more than two years from now at the earliest.

The fund has come under severe strain in recent months amid the recent surge in bank failures. Ninety-eight banks have failed so far this year, which has reduced the fundís value to $10 billion from $45 billion a year ago.

 


The Federal Deposit Insurance Corporation (FDIC) -USA

Is getting to a point where they need recapitalization, with 199 banks on the troubled list and probably a lot more to come.


The Securities Investor Protection Corporation (SIPC) - USA

Is a joke capitalized at $1.5 billion yet they are still quoted as the guarantor of all security values at all brokerage firms.

Up to which limit are you savings/deposits with a bank insured/protected?

  • In the USA they are up to $ 100,000 and the limit has been increased to $ 250,000 per account holder.

  • In the UK the limit has been increased to £ 50,000.

  • In Belgium the limit has been increased to Ä 100,000.

  • In Luxemburg the limit is Ä 100,000 per account holder.

  • In Ireland there is full guarantee for 2 years.

  • In Greece there is full guarantee with no limit.

 

This list will be updated as we receive fresh information: levels fluctuate and are adjusted each day  as political authorities change their mind. PLEASE consult your banker for confirmation.


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