two years

According to reports, the United States Medium Banking Association (MBCA) has requested federal regulators to extend insurance coverage for all deposits within the next two years. Medium sized US banks seek FDIC insurance for “all deposits” for a period of 2 years Analysis based on this information:The United States Medium Banking Association (MBCA) has called for an extension of deposit insurance coverage for all deposits within the next two years. The request was made to federal regulators in light of the current economic uncertainty caused by the COVID-19 pandemic, which has raised concerns about the stability of the banking industry. Deposit insurance is a measure that protects depositors from losing their money in case a bank fails. Under current rules, the Federal Deposit Insurance Corporation (FDIC) provides coverage of up to $250,000 per depositor, per bank. This means that if a depositor has more than $250,000 in a single account in a single bank and the bank fails, the depositor…