NOTICE OF CHANGES IN TEMPORARY
FDIC INSURANCE
COVERAGE FOR NONINTEREST-BEARING 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. FDIC Insurance Calculator.
