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No, it is the minimum , maximum, and only insurance the FDIC provides. Banks can and do get private insurance beyond that.

And stop acting like any uninsured money evaporates in a bank failure.

Actually probably just stop talking about banks. This whole thread is an embarrassment of “smart people with strong opinions about things they have zero knowledge about”.

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Well, thanks for clarifying, TIL that "(...) since 1933, no one has lost money due to a bank failure (...)" in US, according to FDIC.

I wonder how this situation looks outside of US in more distressed economies ie. Argentina.

We had foreign banks who advertised that as a strength and sent their profits to their countries. But when there was a crisis they said we are just a local bank with the same brand as a US bank and won't give the customers their savings back.

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