The standard insurance amount is $250,000 per depositor, per insured bank, for each ownership category.
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE
COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal
Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This
temporary unlimited coverage is in addition to, and separate from, the coverage of at least
$250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term “noninterest-bearing transaction account” includes a traditional checking account
or demand deposit account on which the insured depository institution pays no interest. It
also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other
accounts, such as traditional checking or demand deposit accounts that may earn interest,
NOW accounts and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov. |