Each depositor insured to at least $250,000 per insured bank

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FDIC Consumer News - Fall 2001

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.

  Special Report on FDIC Insurance 

7. If you picked "True" you are correct.

If your bank fails and you have funds exceeding the $100,000 insurance limit, the FDIC will start by giving you a document called a "receivership certificate" indicating the amount of your uninsured deposits. Then, depending on various factors—including the cost of the bank failure minus how much the FDIC recovers liquidating your bank's assets—you still can recover some or, in rare circumstances, all of your uninsured funds. The liquidation process can take several years, so it's important for uninsured depositors to make sure the FDIC has your correct address. See full story...

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Last Updated 11/23/2001 communications@fdic.gov