You give checks or cash to the bank, to open a checking or savings account with them. When you want or need the money, you write the check and the bank pays out your money. When WAMU was taken over, it sounds like there was 151 Billion on deposit with that bank. They had taken in the money, but they don't just keep it there, waiting for you to write your check. The banks make loans to make money on the deposits, or make other investments to bring in interest so they can pay the employees and also the light bill. Now when WAMU was seized, they had all the monies that people had deposited with them, but not lying there in cash. Investments or assets were sold to get that amount to give to JPMorgan to cover those depository accounts. The FDIC, being involved in the illegal takeover, had WAMU's assets and covered that amount out of the bank's funds. The FDIC did not pay out of their funds, but out of WAMU's funds. I hope this answers the question you had.
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