It is good to know the FDIC is looking out for depositors. Of course, they will pay out in Federal Reserve Notes and do not guarantee purchasing power from their mythical fund.
“The largest insured institutions are growing increasingly complex. The proposed rule would help facilitate an insurance determination and dramatically improve access to depositor funds if one of these institutions were to fail. The proposed rule is intended to allow the deposit operations of a failed institution to be continued on the day following failure. ...
The largest number of deposit accounts in a failed institution for which the FDIC has had to make an insurance determination was about 175,000 for NetBank, FSB, Alpharetta, Georgia, on September 28, 2007. Today, some of the larger banks have more than 50 million deposit accounts.” FDIC
There is an alternative. As the current system continues its implosion alternatives will become more attractive. Watch this video for an Introduction to GoldMoney.