What are the top 10 global banks with the highest levels of uninsured deposits, and what factors contribute to their success in attracting and retaining such a significant amount of deposits without insurance?

JPMorgan Chase & Co.

has the highest level of uninsured deposits among global banks, with over $1 trillion as of 2021.

The FDIC insures deposits up to $250,000 per depositor, per insured bank, with deposits above this amount being considered uninsured.

In the US, uninsured deposits are roughly three times the market capitalization of Apple or about equal to 30% of US GDP.

Uninsured deposits are prevalent in large banks due to the convenience and access to various financial services they offer.

Bank of America and Wells Fargo follow JPMorgan Chase & Co., with uninsured deposits of $864 billion and $696 billion, respectively.

JPMorgan Chase & Co.

and Bank of America alone account for over 50% of the total uninsured deposits in the US.

The majority of deposits at these banks are still insured, but the proportion of uninsured deposits is significant.

SVB has the highest proportion of uninsured domestic deposits at 93.8% or $1.516 billion, while Signature Bank ranks fourth with 89.3% or $795 billion.

The FDIC proposed a special assessment rate of 125 basis points based on a bank's estimated uninsured deposits to ensure the largest banks with the most uninsured deposits pay the assessment.

Uninsured deposits at large US banks surged in the wake of the pandemic, reaching $7.9 trillion at yearend 2022, a 41% increase since 2019.