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Question…

Asked by Anonymous

How do people with a millions or billions of dollars protect their assets? It can't be stored in a bank because their limit is 250K by FDIC. And there is simply not enough banks to hold your money because you will accumulate interest. Do the US treasury have bonds or stock that your money can be placed in?

The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails. The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The FDIC does not insure U.S. Treasury bills, bonds or notes, but these investments are backed by the full faith and credit of the United States government.

People may also chose to invest their money in other opportunities such as stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, however, these are not insured by the FDIC.

Learn more about what the FDIC insures.

This week is National Consumer Protection Week. Today we are answering your consumer questions. You can join us for a live social media chat at 2 p.m. EST. Learn more about the chat and how to submit your questions.

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