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Foreword
Your Insured Deposits (Comprehensive Guide) explains in detail all of the deposit insurance categories (including living trust accounts), especially useful for larger depositors and those with specific deposit insurance requirements as well as bankers helping depositors with deposit insurance questions.
The FDIC – short for the Federal Deposit Insurance
Corporation – is an independent agency of the
United States government. The FDIC protects
you against the loss of your insured deposits if
an FDIC-insured bank or savings association fails.
FDIC insurance is backed by the full faith and credit
of the United States government.
If you or your family’s deposit accounts at one FDIC-insured
bank or savings association total $100,000
or less, your funds are fully insured. You can have
more than $100,000 at one insured bank or savings
association and still be fully insured provided your
accounts meet certain requirements.
This guide describes the FDIC’s rules for insurance
coverage of bank and savings association deposits
and answers frequently asked questions about
the FDIC’s insurance rules. The guide is intended
primarily for depositors who need a comprehensive
explanation of the FDIC’s rules, including the
requirements to qualify for more than $100,000
in insurance coverage.
Notice
The information provided in this guide is
presented in a non-technical way and is not intended to be a legal interpretation of the FDIC’s laws and regulations on insurance
coverage. For greater detail concerning
the technical aspects of insurance coverage,
depositors or their counsel may wish to
consult the Federal Deposit Insurance Act
(12 U.S.C.1811 et seq.) and the FDIC’s
regulations relating to insurance coverage
(12 C.F.R. Part 330).
Federal law expressly limits the amount of
insurance the FDIC can pay to depositors and
no representation made by any person can increase that coverage.
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