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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 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.
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