What would you like to do?
May 26th, 2009 FDIC Insurance Limit of $250,000 Extended Until 2013 Even as the FDIC oversaw the closures of two more banks last Friday (the 35th and 36th for this year), it also made a special announcement a few days ago regarding consumers' insurance coverage. The actual text from the FDIC website reads: "May 20, 2009 Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor. (This supersedes the October 3, 2008 changes.)" It can be recalled that the rise in insurance coverage from $100,000 to $250,000 was made effective last October 3, 2008 in light of the successive bank closures that hit the country last year. While the new insurance cap of $250,000 per deposit account is supposed to expire come December 31, 2009, this notice effectively extends the raised limit for another four years.
4 people found this useful
Was this answer useful?
Thanks for the feedback!
The fdic insures personal deposits. It was 100,000 per account now 250,000 per account. for more info take a look at http://www.fdic.gov/deposit/Deposits/insured/basics.html w…ww.southridgecapital.com
Federal Deposit Insurance Corporation. The FDIC insures deposits at 8,195 institutions. The FDIC also examines and supervises certain financial institutions for safety and s…oundness, performs certain consumer-protection functions, and manages banks in receiverships (failed banks). It covers up to $250,000.00 for each account including CD IRA's. -word bruh- ps. see http://en.wikipedia.org/wiki/FDIC#FDIC-insured_products
Per the FDIC website: http://www.fdic.gov/consumers/consumer/information/fdiciorn.html What Is Not Insured? Increasingly, institutions are also offering consumers… a broad array of investment products that are not deposits, such as mutual funds, annuities, life insurance policies, stocks and bonds. Unlike the traditional checking or savings account, however, these non-deposit investment products are not insured by the FDIC. Mutual Funds Investors sometimes favor mutual funds over other investments, perhaps because they hold promise of a higher rate of return than say, CDs. And with a mutual fund, such as a stock fund, your risk - the risk of a company going bankrupt, resulting in the loss of investors' funds - is more spread out because you own a piece of a lot of companies instead of a portion of a single enterprise. A mutual fund manager may invest the fund's money in either a variety of industries or several companies in the same industry. Or your funds may be invested in a money market mutual fund, which may invest in short-term CDs or securities such as Treasury bills and government or corporate bonds. Do not confuse a money market mutual fund with an FDIC-insured money market deposit account (described earlier), which earns interest in an amount determined by, and paid by, the financial institution where your funds are deposited. You can - and should - obtain definitive information about any mutual fund before investing in it by reading a prospectus, which is available at the bank or brokerage where you plan to do business. The key point to remember when you contemplate purchasing mutual funds, stocks, bonds or other investment products, whether at a bank or elsewhere, is: Funds so invested are NOT deposits, and therefore are NOT insured by the FDIC - or any other agency of the federal government.
The FDIC provides to $200,000 of insurance per bank account. This means that if the bank goes under, you will still have your money. If you have more than $200,000, you will n…eed to put in in multiple bank accounts.
The FDIC insures traditional types of bank accounts including: checking, savings, certificates of deposit (CDs), and money market deposit accounts. These types of accounts… generally are insured by the FDIC up to the legal limit of $250,000.
It is only for a time-limited period, and it was done to reassure individual depositors that their funds were safe and they didn't need to withdraw all their money in a …panic on the fear that their bank would fail, thereby actually causing it to fail.
FDIC insures the deposits that customers place in banks. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member bank…s, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. It provides deposit insurance, which guar…antees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. The FDIC insures deposits at over 7500 institutions across the United States
Yes. Chase bank is FDIC Insured. All deposits upto $250,000 in chase deposit accounts are insured by the FDIC. Chase bank is one of the largest banks in USA and it wouldn't be… so if it was FDIC un-insured
No, because they are not issued by FDIC insured institutions but structures are extremely safe investments for the following reasons: 1. they are the only investment vehicle… under which payments (benefits) are contractually obligated and thus guaranteed 2. The majority of issuers are fortune 500 companies with high financial ratings presenting a slim chance of insolvency 3. in the event of insolvency, a state guaranty fund pays out present value of the annuity up to $250,000 but this protection differs from state to state 4. thanks to a 1988 congressional vote and subsequent act, a holder of a structured settlement is given a position of better than a general creditor against the annuity provider 5. Finally, if you are still worried about the safety of a structure, request Secured Creditor Status, it's free and provides an additional layer of protection (highly recommended if you're placing more than 250k in a structure)
I think is was up to 500$
It means that your deposits are insured or safe-kept by the FDIC. FDIC insures upto $250,000 of your deposit in your bank. So, lets say you have $50,000 in your bank account a…nd the bank just declared bankruptcy. The FDIC will give you the $50,000 you had your bank account. Lets say I had $500,000 in my bank account. In that case I will get only $250,000 because FDIC insures only upto that amount per customer account per bank.
FDIC stands for Federal Deposit Insurance Corporation. Fdic insurance allows you to be covered and not lose any money when having a deposit account if your financial instituti…on fails.
"Upon my recent studies, I have discovered that there are three locations for FDIC Insurance. Two are in Washington, DC and the other one is in Arlington, VA."
No, the National Credit Union Administration (NCUA) insures the Credit Unions.
Banks that are insured by the Federal Deposit Insurance Corporation are insured against loss as a result of the bank defaulting or otherwise being unable to repay a customer's… money.