Financial Signs of the Times - Part 2

...and yet another email from E*TRADE all in the same day.

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Given all the recent news in the financial industry, we understand you might have some questions about how the cash in your E*TRADE Securities account is protected.Rest assured that the uninvested cash in your Extended Insurance Sweep Deposit Account (ESDA) is automatically FDIC-insured up to $500,000—featuring up to 5X the coverage of FDIC basic insurance.This extraordinary level of protection is a free feature of your brokerage account. There is no cost and nothing you need to do. It's just one of the many ways your assets are protected at E*TRADE Securities:
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FDIC insurance coverage up to $500,000 for the cash held in your Extended Insurance Sweep Deposit Account.¹
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E*TRADE Securities is a member of SIPC, which protects securities customers of its members up to $500,000 (including $100,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
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Additional brokerage protection up to $150 million per brokerage account is underwritten by London insurers (aggregate $600 million).²
At E*TRADE, the safety and security of your assets is of paramount importance. Today, over 3.1 million customers worldwide rely on E*TRADE for their trading, investing, and banking needs. We look forward to serving you for many years to come. Sincerely,Michael CurcioChief Executive OfficerE*TRADE Securities LLC P.S. For additional information on your Extended Insurance Sweep Deposit Account, please visit the following links, or see our frequently asked questions.