23 In the United States bank deposit insurance is provided by the Federal Deposit Insurance Corporation FDIC an independent agency of the US government. The FDIC provides a full faith and credit guarantee up to 250000 per depositor per insured bank per ownership category. Ownership categories include single name accounts joint accounts certain retirement accounts corporate partnership unincor- porated association accounts revocable trust accounts irrevocable trust accounts employ- ee benefit plan accounts and more. Between different types of accounts and the use of multiple banks one person or family particularly if they maintain trusts and businesses can access a large amount of federal deposit insurance. Significantly greater amounts can be accessed through the use of brokered deposits which are easily accessible through brokerage accounts. Be careful of brokered deposits unless you are buying through a reputable FINRA-regulated brokerage firm and consider deposits only in fundamentally sound banks. If a bank fails the FDIC as regulator be- comes the receiver and the bank or portions thereof including customer accounts may be transferred to a new institution. Under new bail-in procedures bank resolutions can be financed at the cost of creditors including uninsured depositors. Consequently you want to avoid having uninsured deposits. Even if you have insured deposits it is best to avoid bank failures by maintaining insured deposits in well-managed well-capitalized banks. A bank failure can result in short-term unavailability and resulting opportunity costs not to mention sleepless nights and lost time. If you hold a significant amount in bank deposits you will want to make sure that you do not concentrate these savings in one bank if possible. In addition avoid banks that have significant conflicts of interest with propri- etary trading and derivative positions as well as positions and services they are managing for the central bank and federal government. It would be better to focus on banks whose primary business is serving customers like you in which to establish enduring relationships. In theory the FDIC insurance fund could be expended if bank failures were to increase. Given the importance to the federal credit system of maintaining bank insurance in most scenarios I expect the US full faith and credit to stand behind the FDIC as a practical matter as it did to backstop Fannie Mae and Freddie Mac when mortgage fraud bank- rupted them during the bailout period. The only reason not to provide such a backstop would be the intentional political decision to start bank runs. This scenario seems unlikely for the foreseeable future. I suspect that the effort to shift young peo- ple into cryptocurrencies is actually about shifting depositors away from sovereign obligations in order to protect the financial system. If you bank in multiple jurisdictions you should determine if sovereign deposit insur- ance covers foreign banking customers. It may be limited to national citizens. Conse- quently you will be better off maintaining sovereign bonds or securities than unin- sured deposits in an institution in a foreign jurisdiction.