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FDIC Consumer News - Spring 1998

Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

FDIC Brochure to Answer Questions About Year 2000 Date Change

The FDIC soon will publish a brochure answering some of the questions bank customers may have about the Year 2000 (or Y2K) date change and its impact on businesses like banks and savings institutions. (As noted in our last issue, some computer systems may incorrectly read the date January 1, 2000, as January 1, 1900. That may cause malfunctions in services provided by businesses, utilities and other organizations.) The FDIC brochure explains the steps that financial institutions and federal regulators are taking to assure that computer systems will work properly come January 1, 2000. It also includes a reminder that the FDIC insures deposits up to $100,000 against loss due to the failure of an insured bank or savings association. For your free copy of our Year 2000 brochure, please send a request by mail, Internet or fax to the FDIC’s Public Information Center, or read the brochure on the FDIC’s Internet site. The brochure is expected to be available in late July of 1998.

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Last Updated 08/03/1999 communications@fdic.gov