RSU & FDIC
Should I account for RSUs to assess whether my bank account is above or below the 250k covered by FDIC?
Rsus would be sipc insurance not fdic.
Brokerage works differently than savings. What you hold in the brokerage is your agreement showing the part ownership of the business or the agreement of the money you lend a company(bond). Even if the brokerage is under the agreement is still enforceable. Because even the public domain has the documents(read sec). You still need some kind of insurance for a wide range of reasons, but that’s covered by sipc. Where as for savings account you are lending the money to the bank so if the bank goes under then you need to be insured to get the amount back. Your account statement is the agreement here. In short the 250k amount is only on cash accounts per bank per ownership. That means in a given bank even if you have 10 accounts all under your name (not joint) the total amount insured across all accounts is 250k. But if you have an account in a different bank or have joint bank account that would get another 250k.
It’s actually $250k per depositor, per category, per bank
Yes checking, deposits and savings are separate. Basically what I meant was multiple accounts under same name at the same bank under a category wouldn’t qualify for multiple 250K. Thanks for clarifying.
No they are unrelated