Effective July 22, 2010 – The Standard
Deposit Insurance Coverage Amount of
$250,000 was made permanent. The FDIC
coverage limit applies per depositor, per
insurance depository institution, for each
account 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.
