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FDIC insurance covers all types of deposits received at an insured bank, including deposits in checking, NOW, and savings accounts, money market deposit accounts, and time deposits such as certificates of deposit (CDs).
FDIC deposit insurance covers the balance of each depositor's account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank's closing.
The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities, even if these investments were bought from an insured bank.
The FDIC does not insure U.S. Treasury bills, bonds, or notes. These are backed by the full faith and credit of the United States government.
The basic insurance amount is $250,000 per depositor, per insured bank.
The $250,000 amount applies to all depositors of an insured bank.
Deposits in separate branches of an insured bank are not separately insured. Deposits in one insured bank are insured separately from deposits in another insured bank.
Deposits maintained in different categories of legal ownership at the same bank can be separately insured. Therefore, it is possible to have deposits of more than $250,000 at one insured bank and still be fully insured.
NOTICE OF EXPIRATION Of The Temporary Unlimited Full FDIC Insurance Coverage for Non-Interest-Bearing Transaction Accounts
By federal law, as of 1/1/2013, funds in a Non-Interest-Bearing Transaction Account (including an IOLTA/IOLA) will no longer receive unlimited deposit insurance coverage, But will be FDIC-insured to the legal maximum of $250,000 for each ownership category.
For more information visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html