It's pretty easy to make a case that both that the Federal Reserve Bank of the United States (FRB) and the U.S. Federal Government are at least bankrupt but probably also insolvent.
When you are having to monetize over $7 trillion in both Treasury and Mortgage debt since 2008 and have borrowed another $27 trillion much of which is part of the $7 trillion that was monetized to keep the government operating that's bankruptcy.
In reality, the FRB is figuratively writing the Government a check which it doesn't have the money to cover. It's like you writing a check, knowing you don't have the money and it miraculously doesn't bounce. The FRB and Government long ago ran out of money, so they are typing out huge amounts of money using keystrokes on their computer systems. The FRB is writing bad checks to the government so they can pay all the government employees and costs. We still call this money printing only becasue that was what they did in the old days, before computers and the interbank Swift system.
Officially, we are not bankrupt, but realistically we are. The expansion of the money supply by monetizing the debt is showing up in both higher real estate prices, some commodities but also the highly overvalued stock markets.
Japan, China, India, Germany, and most of the European Union, and other countries in the world are doing the same things so the International central banking system and most countries are also bankrupt.
Insolvency is when your liabilities exceed the assets so with many government bonds around the world at negative interest rate levels, how much are they really worth, if it's only the central banks and a few major corporations that are willing to buy them?