TRUE OR FALSE
This statement is generally false, as most countries have some form of deposit insurance in place to protect the savings deposits of individuals and businesses.
Deposit insurance is a system that guarantees the safety of deposits made at financial institutions in the event that the institution becomes insolvent or fails. The purpose of deposit insurance is to protect depositors from losses and to help maintain confidence in the banking system.
The level of protection and the specific terms of deposit insurance vary by country. In some countries, deposit insurance is provided by government-backed agencies, while in others it is provided by private insurance companies. In general, deposit insurance covers deposits up to a certain amount (e.g., $250,000 in the United States) per depositor per institution.
While deposit insurance does not guarantee the safety of deposits in all circumstances, it does provide a significant level of protection for most depositors.
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