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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
does not include other accounts, such as traditional checking or
demand deposit accounts that may earn interest, NOW accounts,
money-market deposit accounts, and Interest on Lawyers Trust
Accounts (“IOLTAs”).
Funds automatically transferred or swept from a noninterest-bearing transaction account to an account
that earns interest will be subject to the FDIC’s general
deposit insurance rules.
For more information about temporary FDIC insurance coverage
of transaction accounts, visit www.fdic.gov. |
