On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the “national rate” as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. Although the final rule is not effective until January 1, 2010, the FDIC does not object to the immediate use of the newly defined national rate by an insured depository institution. The national rates and rate caps for various deposit maturities and sizes are provided below.

For more information. see Financial Institution Letter FIL-25-2009

Rates updated August 24, 2009.

Non-Jumbo Deposits (< $100,000)

Jumbo Deposits (≥ $100,000)

Previous Rates

¹National rates are calculated based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Data used to calculate the national rates are gathered by a third party. Savings and interest checking account rates are based on the $2,500 product tier while money market and certificate of deposit are based on the $10,000 and $100,000 product tiers for non-jumbo and jumbo accounts, respectively. Account types and maturities published in these tables are those most commonly offered by the banks and branches for which we have data—no fewer than 20,000 locations and as many as 74,000 locations reported. While the jumbo deposit rates offered by each individual bank are higher than the deposit rates it offers on smaller deposits, nationwide averages of jumbo deposit rates may be lower than nationwide averages of rates offered on smaller deposits because the population of banks and branches posting separate rates on jumbo deposits is different from, and smaller than, the general population of banks and branches. Accordingly, the published jumbo deposit rates in these tables will differ from the published non-jumbo rates only where the jumbo deposit rate is higher. The deposit rates of credit unions are not included in the calculation.

²The rate cap is determined by adding 75 basis points to the national rate. To determine conformance with the regulation, compare rates offered by the institution, based on size and maturity of the deposit, to the rate caps. For accounts less than $100,000 use the applicable rate cap under the non-jumbo column, and for accounts $100,000 and over, use the rate caps under the jumbo column. Interpolation should be used for deposits with maturities not listed above.