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Zorluk: OrtaSIPC vs. FDIC Protection and Coverage Limits

An investor maintains individual accounts at two separate institutions: an FDIC-insured commercial bank and a SIPC-member broker-dealer undergoing liquidation. At the commercial bank, the investor holds a 100,000checkingaccountanda100,000 checking account and a 200,000 certificate of deposit (CD). At the broker-dealer, the investor holds 200,000inequitysecurities,200,000 in equity securities, 280,000 in uninvested cash, and a commodity futures contract valued at $40,000. If both institutions fail, what is the total maximum amount protected by FDIC and SIPC combined for this investor?

  1. $700,000Cevap
  2. B
    $730,000
  3. C
    $750,000
  4. D
    $770,000

Cevap

700,000totalprotectedamount(700,000 total protected amount ( 250,000 from FDIC + $450,000 from SIPC).
The total maximum protected amount is 700,000.FDICprotectsbankdepositsupto700,000. FDIC protects bank deposits up to 250,000 per depositor per bank for single ownership accounts (300,000totaldepositbalanceyields300,000 total deposit balance yields 250,000 coverage). SIPC protects customer claims at an insolvent broker-dealer up to 500,000totalperseparatecustomer,withacashcoveragelimitof500,000 total per separate customer, with a cash coverage limit of 250,000. At the broker-dealer, the investor has 200,000inequitysecurities(fullycovered)and200,000 in equity securities (fully covered) and 280,000 in cash (capped at 250,000coverage),giving250,000 coverage), giving 450,000 in total SIPC protection. Commodity futures are not covered by SIPC. Combined protection equals 250,000+250,000 + 450,000 = $700,000.

Adım Adım Çözüm

1
Calculate FDIC coverage for the bank accounts.
Total bank deposits = 100,000(checking)+100,000 (checking) + 200,000 (CD) = 300,000.FDICcoversupto300,000. FDIC covers up to 250,000 per depositor per bank. Protected bank amount = $250,000.
FDIC insurance protects cash deposits up to $250,000 per ownership capacity.
2
Calculate SIPC coverage for the brokerage account.
Equity securities = 200,000(fullycovered).Cashbalance=200,000 (fully covered). Cash balance = 280,000, but SIPC limits cash recovery to 250,000.Commodityfutures=250,000. Commodity futures = 40,000 (not covered by SIPC). Protected brokerage amount = 200,000+200,000 + 250,000 = $450,000.
SIPC provides a total of 500,000coverageperseparatecustomer,withasublimitof500,000 coverage per separate customer, with a sublimit of 250,000 for cash claims. Commodities and futures contracts are ineligible for SIPC protection.
3
Sum the total protected amounts from both coverage sources.
250,000(FDIC)+250,000 (FDIC) + 450,000 (SIPC) = $700,000.
FDIC and SIPC are separate protective regimes applying to bank deposits and broker-dealer customer claims, respectively.

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