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Deposit Insurance Coverage Temporary Increase

On October 3, 2008, President George W. Bush signed the Emergency Economic Stabilization Act of 2008, which temporarily raises the basic limit on federal deposit insurance coverage from $100,000 to $250,000 per depositor. The temporary increase in deposit insurance coverage became effective immediately upon the President's signature. The legislation provides that the basic deposit insurance limit will return to $100,000 after December 31, 2013.

consumers who received an e-mail that has the appearance of being sent from the FDIC. The email

informs the recipient that “in cooperation with the Department of Homeland Security,

federal, state and local governments…” the FDIC has withdrawn deposit insurance from the

recipient’s account “due to account activity that violates the Patriot Act.” It further states deposit

insurance will remain suspended until identity and account information can be verified using a

system called “IDVerify.” If consumers go to the link provided in the e-mail, it is suspected they

will be asked for personal or confidential information, or malicious software may be loaded onto

the recipient’s computer.

This e-mail is fraudulent. It was not sent by the FDIC. It is an attempt to obtain personal

information from consumers. Financial institutions and consumers should NOT access the link

provided within the body of the e-mail and should NOT under any circumstances provide any

personal information through this media.

The FDIC is attempting to identify the source of the e-mails and disrupt the transmission. Until

this is achieved, consumers are asked to report any similar attempts to obtain this information to

This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

. To learn how to automatically receive

FDIC Special Alerts through e-mail, please visit

www.fdic.gov/about/subscriptions/index.html.

Sandra L. Thompson

Director

Division of Supervision and Consumer Protection

Distribution: FDIC-Supervised Banks (Commercial and Savings)

Note: Paper copies of FDIC Special Alerts may be obtained through the FDIC’s Public

Information Center, 877-275-3342 or 703-562-2200.

On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.

The temporary increase from $100,000 to $250,000 was effective from October 3, 2008, through December 31, 2010. On May 20, 2009, the temporary increase was extended through December 31, 2013.

"With this permanent increase of deposit insurance coverage to $250,000, depositors with CDs above $100,000 but below $250,000 will no longer have to worry about losing coverage on those CDs maturing beyond 2013. We strongly encourage all bank depositors who have questions about their insurance coverage to go to our Web site at www.fdic.govand use our Electronic Deposit Insurance Estimator (EDIE) or call our toll-free number at 1-877-ASK-FDIC. Insured deposits provide the comfort and peace of mind to depositors that their money is 100 percent safe – provided they keep their deposit balances within the insurance limits," said FDIC Chairman Sheila C. Bair.

To help consumers, bankers and others understand how the new law affects deposit insurance coverage and to help consumers verify whether their deposit accounts are fully protected, the FDIC provides the following resources:

• Information on deposit insurance on the FDIC Web site: Updated brochures on deposit insurance coverage (including the basic guide, Deposit Insurance Summary, and the more comprehensive guide, Your Insured Deposits) and a new version of the "Electronic Deposit Insurance Estimator" (EDIE), an interactive service that allows consumers to quickly and easily check whether their accounts are fully protected, are now available on the FDIC's Web site (www.fdic.gov).
• A toll-free consumer assistance line: Help and information about deposit insurance and other matters of interest to bank customers are available at 1-877-ASK-FDIC (1-877-275-3342) Monday through Friday from 8:00 a.m. to 8:00 p.m., Eastern Time. For the hearing-impaired, the number is 1-800-925-4618.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insured deposits at the nation's 7,932 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring the addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-161-2010

NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE

COVERAGE FOR TRANSACTIONS ACCOUNTS

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For your reference, FDIC Special Alerts may be accessed from the FDIC’s Web site at