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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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Winter 2007/2008
Insured or Not Insured?
You're placing funds with an FDIC-insured banking institution. Does that mean it's all covered by
FDIC insurance? Not necessarily. Federal law is very specific about what is and is not FDIC-insured.
FDIC-insured accounts primarily are checking accounts (including money market deposit accounts,
which are not the same as money market mutual funds that invest in non-deposit investments and
are not insured), savings accounts, certificates of deposit (CDs), and retirement accounts placed in
deposits at insured institutions
Products that are NOT FDIC-insured, even if purchased from a bank, include investments in
mutual funds (stock, bond or money market mutual funds), annuities, stocks, bonds, Treasury
securities and other investment products. Contents of safe deposit boxes also are not protected by
FDIC insurance.
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