[marcosdumay]

AFAIK, the current normal is for banking systems to ensure all of the deposits, the US is an exception. And this policy hasn't caused any disaster anywhere yet.

But yes, the US has more singular things that can interact badly with no limits on insurance. As a start, the insuring entity has much shallower pockets than most places I know about.

[morelisp]

Your knowledge is wrong. Most European DGSs cover up to 100k, for example.

https://en.wikipedia.org/wiki/Deposit_insurance