The recent debacle on banks, their liquidity issues and bank-runs had prompted this question that was seldom asked before among my circles: is my money in the bank safe? Short answer: it depends. Before going on a panic spree upon my answer, we shall take a deeper look at why I gave my reply as such. Enter SDIC If you have heard of the Federal Deposit Insurance Corporation, or FDIC, on the news where it protected depositors of Silicon Valley Bank a while ago, we have an equivalent here in Singapore, called Singapore Deposit Insurance Corporation (SDIC). I had covered SDIC in my eBook on the chapter on cash¹, but to provide a summary, the SDIC insures Singapore dollar (SGD) denominated deposits placed with a Deposit Insurance (DI) Scheme member in any of its branches in Singapore, up to SGD 75,000 (depending on type of account) per DI Scheme member. Foreign...