Washington Mutual Inc. tumbled more than 20 percent for a second day as Gimme Credit LLC said unsecured creditors were "pulling funds" from the biggest U.S. savings and loan.
From this quote, it seem if depositers are moving money around to get under FDIC limits.
"We won't use the phrase 'run on the bank,' but we would be remiss if we did not observe that many creditors have quietly been pulling funds," wrote Shanley, based in Chicago. Their actions are "presenting an increasing funding challenge," she wrote. Gimme Credit is an independent research firm serving corporate bond investors.
Suggestion: Use the FDIC Electronic Deposit Insurance Estimator to determine your exposure. If you are over the FDIC limits you might want to consider opening a new account, moving your money around between institutions or adding beneficiaries.
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