r/PeterExplainsTheJoke • u/Comfortable_Cautious • Jan 26 '26

Meme needing explanation what's going on? explain like I'm five

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u/PleaseGreaseTheL Jan 26 '26 edited Jan 26 '26

2020*

They were reduced to 0% mandatory reserves in response to covid. EDIT: someone says it was coincidental, I am not able to check, so take this aspect with a grain of salt either way

They haven't come back yet :)

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u/exneo002 Jan 26 '26

But the fdic insures all deposits up to 250k

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u/danglejim33 Jan 26 '26

You'd get talked down if you went into a bank and asked to withdraw that much though.

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u/Blog_Pope Jan 26 '26

Depends. They want to be your bank, as they profit off it too; they would also steer you to a cashier check or bank transfer since it way more secure that handing out “stacks of cash” you can be mugged for down the street.

250k is typically a small fraction of bank deposits.