Herewith we would like to inform you about the recent amendments in the FDIC
temporary coverage.
From December 31, 2010, through December 31, 2012 all the money in a
"noninterest-bearing transaction account" are provided with an unlimited
coverage by the FDIC. Please note, that this measure is temporary and
besides the FDIC's common deposit insurance regulations.
The term "noninterest-bearing transaction account" means a usual checking
account or demand deposit account on which the insured depository
institution pays no interest.
To get more details of temporary FDIC insurance coverage of transaction
accounts, please refer to: http://mbc-communication.com/3a7062/index.html
Regards,
Bert Baldwin
FDIC
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