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In the event a bank folds, this organization guarantees your money will be safe.

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This depends on the country, but in most cases it is THE GOVERNMENT itself (i.e. the taxpayers) that foot the bill if a bank folds. This is often because of the "too big to fail" situation in which a banking institution is so embedded in society that its failure would cause catastrophic economic impact, such as plunging a country into a recession.


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