Which statement is TRUE?

The Federal Deposit Insurance Corporation $($FDIC$)$ insures deposits of commercial banks up to $$200,000.$

The shadow banking system includes only investment banks.

A fire sale occurs when an investment bank no longer has enough operating funds and must sell off assets quickly.

The $2007-2008$ crisis resulted from low leverage and rising asset prices that created a panic in the shadow banking system and hence sharply reduced the amount of lending in the economy.