NOTICE
OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE
FOR 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 www.fdic.gov.
NOTICE
TO CUSTOMERS WITH TRANSFER OR SWEEP ARRANGEMENTS
If
you have a non-interest bearing transaction
account with a transfer or sweep arrangement
to an interest bearing transaction account,
that transfer could decrease your FDIC
deposit insurance coverage.
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