Big Depositors Seek A New Safety Net

From the New York Times

On the first day of the New Year, $1.5 trillion of bank deposits will lose an unlimited government guarantee that was granted during the financial crisis to assure skittish customers that their cash was safe. For a handful of boutique firms that service banks, it’s a boon for business.

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As described in the article, the Transaction Account Guarantee Program (TAGP) was not extended. We discussed if this might be helpful to savers in this September blog post.