Thread Starter: Anonymous
Title: Re: FDIC Coverage for Municipalities
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Before I tell the senior lender he is wrong, the FDIC does not offer any coverage enhancements for municipalities, correct?
For a local gov't unit to have more than the current limits in invested funds, they either need to participate in CDARS, correct?
Local money needs to be fully collateralized i thought, hence why municipalities genenerally only deposit within the fdic insurance limits with a bank, and the rest of their funds within state run collateral pools?
Yes, no?
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