Single account owned by a consumer. Balance is $1,000,000.
Customer does not want to add any additional owners or POD beneficiaries to her account. She requests securities be pledged by the Bank to her uninsured amount in the bank ($750,000).
T or F?
Since the customer has $250,000 in FDIC deposit insurance, the bank only needs to pledge securities valued at $750,000, not $1,000,000.
Thanks for any responses.