What makes you think the FDIC has any money?
All those banks they have been closing? Since 2008?
The government would have to back up the FDIC.
That is why the FDIC was against it. The derivatives are bigger than the FDIC.
The FED’s won, and they want their bailout. One way or another.
If the FDIC fails to live up to its obligations, all banks in the country will be closed shortly thereafter. You’ll see runs on all the banks healthy or not. For the FDIC not to pay would essentially be a default by the US government.
If that happens, BofA will be the least of your concerns.