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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 www.fdic.gov.
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