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FDIC Consumer News
Important Update: FDIC Insurance Coverage Increased in Late 2008
In the fall of 2008, Congress temporarily increased the basic FDIC insurance coverage limit from $100,000 to $250,000 through December 31, 2009. In addition, the FDIC simplified the rules for the calculation of deposit insurance coverage for revocable trust deposits, including an expanded definition of the "eligible beneficiaries" for additional insurance coverage. As a result, certain previously published information related to FDIC insurance may not reflect the current insurance coverage. For more information, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342) Monday through Friday, 8:00 a.m. to 8:00 p.m., Eastern Time. For the hearing-impaired, the number is 1-800-925-4618.
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Spring 2004
FDIC Issues New Publications Explaining Deposit Insurance
The FDIC has issued two new publications to help explain federal deposit insurance coverage.
One brochure, Insuring Your Deposits, answers basic questions that individuals and families most frequently ask about their FDIC insurance coverage.
The other publication, Your Insured Deposits — FDIC's Guide to Deposit Insurance Coverage, is a comprehensive guide to the deposit insurance rules primarily for people with large-dollar or complex accounts, as well as businesses and organizations.
"No matter where you live or what you do, at some time in your life you may have more than $100,000 in a bank, perhaps from a pension, retirement savings, an inheritance or the proceeds from the sale of your home," says FDIC Chairman Don Powell. "That's why it's important for everyone to have a basic understanding of FDIC insurance coverage, especially before your deposits go over that $100,000 limit."
You can read or download both new publications at www.fdic.gov/deposit/deposits
on the FDIC's Web site. Single copies are available free of charge by completing the online order form at www2.fdic.gov/depositinsuranceregister or by calling or writing the FDIC's Public Information Center. Both publications are scheduled to be issued in Spanish this summer followed by Chinese and Korean versions later this year.
Not sure how much you know about FDIC insurance coverage? Take our latest quiz on Page 5 and find out.
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