Your brokerage accounts are not FDIC insured, but rather accounts held with Merrill are SIPC insured. SIPC insurance covers your account up to $500,000 in equity with up to $250,000 in cash. Coverage above SIPC limits is covered by Lloyd's of London. Customers who have exceeded the full SIPC limits have further protection provided by the Lloyd's policy, subject to an aggregate loss limit of $1 billion for all customer claims and includes up to $1.9 million cash per customer (excluding any FDIC eligible products within the account). Learn more at https://www.sipc.org/