Friday, "The Bank of England provided emergency funding to mortgage lender Northern Rock PLC on Friday after the bank, citing the global credit squeeze triggered by the U.S. subprime mortgage crisis, said it was unable to line up short-term loans from other financial institutions. "
...
Bankers warned against making parallels between Northern Rock and troubled Countrywide Financial Corp. in the United States_ which is releasing 13,000 employees and has been forced to borrow billions of dollars as it struggles to weather a wicked downturn in the U.S. housing market.

Monday, "he British Broadcasting Corp. reported Sunday that customers had withdrawn nearly 2 billion pounds ($4 billion) from Northern Rock accounts, though CEO Adam Applegarth refused to give a figure."

I can understand the concerns of the British. It may be a little premature to withdraw funds. Although, they (the British) have been around a lot longer and experienced a lot more than we.

Let's hope this all dies down soon.

Either way, here's a link to an FDIC document discussing FDIC insured deposits for banking. There is a disclaimer indicating the document is not a legal interpretation of the law for FDIC insurance, and suggests a review of the Federal Deposit Insurance Act and the FDIC's regulations. Gee, that's reassuring.