Just out of idle curiosity, does anybody here know how long it takes for the FDIC to make a depositor whole in the event of a failure that actually activates the FDIC insurance program?
RE: Just out of idle curiosity, does anybody here know how long it takes for the FDIC to make a depositor whole
I tried looking for the answer to your question from FDIC itself. See here:
https://www.fdic.gov/consumers/banking/facts/payment.html
My conclusion is it’s going to take time because of all the forms the depositors have to fill and documentation they have to show.