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Financial Institution Letters

Deposit Insurance Coverage
New Spanish Language Overview Video Now Available
FIL-75-2006
August 11, 2006


Summary: The FDIC has produced a new Spanish language video for bank employees and customers explaining federal deposit insurance coverage. The new video, which features professional actors, is available for viewing by the public through the FDIC's Web site and can be ordered by insured institutions on VHS, DVD and CD-ROM. This 30-minute video provides an overview of the FDIC's rules and requirements for deposit insurance coverage, with specific emphasis on the most common account ownership categories used by individuals and families. The video reflects the increase in coverage to $250,000 for certain retirement accounts and other recent regulatory changes resulting from implementation of the Federal Deposit Insurance Reform Act of 2005. These changes to the FDIC's insurance rules took effect on April 1, 2006.

Highlights:
  • On April 1, 2006, deposit insurance coverage for certain retirement plan deposits increased from $100,000 to $250,000. The basic insurance amount for all other ownership categories remains unchanged.
  • As a result of the changes in insurance coverage, the FDIC has updated all of its publications and other resources on deposit insurance coverage for consumers and bankers.
  • The FDIC developed the Spanish language video to make information about FDIC insurance coverage easy to understand and available to a wide variety of individuals. The new Spanish language video is similar to the FDIC's video "Overview of Deposit Insurance Coverage," which was released in English on July 5, 2006.
  • The following FDIC deposit insurance resources have been updated this year. All are now available at no cost to FDIC-insured institutions. More information about these materials, including how to obtain copies of them, is included on the following pages.
    • FDIC's Inventory of Deposit Insurance Guidance
    • Electronic Deposit Insurance Estimator – Banker Version
    • Electronic Deposit Insurance Estimator – Online Version (only available on the FDIC's Web site at www.fdic.gov/edie)
    • FDIC's Video-Overview on Deposit Insurance Coverage
    • FDIC's Video-Seminar on Deposit Insurance Coverage
    • FDIC's Deposit Insurance Coverage Resources for Bankers
    • Insuring Your Deposits (English and Spanish brochures)
    • Your Insured Deposits (English and Spanish brochures)
    • Financial Institution Employee's Guide to Deposit Insurance Coverage

Continuation of FIL-75-2006

Distribution:
All FDIC-Insured Institutions

Suggested Routing:
Chief Executive Officer
Head of Deposit and Branch Operations
Compliance Officer
Training Officer

Related Topics:
FDIC Deposit Insurance Regulations
12 C.F.R. 330

Contact:
FDIC Call Center at 1-877-275-3342.

Printable Format:
FIL-75-2006 - PDF 53k (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2006/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center (1-877-275-3342 or 703-562-2200).



Financial Institution Letters
FIL-75-2006
August 11, 2006

Deposit Insurance Coverage
New Spanish Language Overview Video Now Available

The FDIC has produced a new Spanish language video for bank employees and customers explaining federal deposit insurance coverage. The new video, featuring professional actors, is available for viewing by the public through the FDIC's Web site and can be ordered by insured institutions on VHS, DVD and CD-ROM. This 30-minute video provides an overview of the FDIC's rules and requirements for deposit insurance coverage, with specific emphasis on the most common account ownership categories used by individuals and families. The video reflects the increase in coverage to $250,000 for certain retirement accounts and other recent regulatory changes resulting from implementation of the Federal Deposit Insurance Reform Act of 2005. These changes to the FDIC's insurance rules took effect on April 1, 2006.

In addition to launching the new Spanish language video, the FDIC has updated the following deposit insurance resources this year:

  • FDIC's Inventory of Deposit Insurance Guidance, which is a CD-ROM with a searchable database of deposit insurance information categorized by topic; links to all FDIC deposit insurance publications, products and services; a detailed list of questions and answers; and an A-to-Z glossary of deposit insurance terms.
  • Electronic Deposit Insurance Estimator – Banker Version, which is an interactive computer application that allows financial institution personnel to estimate insurance coverage of customers' accounts quickly and easily. It is now available on CD-ROM. Bankers can continue to download the software from the FDIC's Web site.
  • Electronic Deposit Insurance Estimator – Online Version, which is a user-friendly Internet application that can help bank customers learn about deposit insurance and calculate insurance coverage on their accounts. It is available only on the FDIC's Web site at www.fdic.gov/edie. Two formats are offered: a "Walk Me Through" format and a "Calculator" format. The "Walk Me Through" format is a step-by-step approach; the "Calculator" format is an all-inclusive approach that allows users to enter all necessary information on one screen.
  • FDIC's Video-Overview on Deposit Insurance Coverage – English Version, which provides a basic overview on how deposit insurance works, focusing on the most common account ownership categories used by individuals and families. It is available on the FDIC's Web site at www.FDIC.gov/deposit/deposits/index.html#video as well as on VHS, DVD and CD-ROM.
  • FDIC's Video-Seminar on Deposit Insurance Coverage, which is a comprehensive presentation on deposit insurance coverage, explaining in detail the rules and requirements for all account ownership categories with illustrated examples. It is available on the FDIC's Web site at www.FDIC.gov/deposit/deposits/index.html#video as well as on VHS, DVD and CD-ROM.
  • Deposit Insurance Resources for Bankers, which is an audio presentation with Power Point slides that identifies, describes and demonstrates how an insured bank can use the FDIC's many deposit insurance tools and resources to help employees explain FDIC insurance coverage to depositors. This seminar is in English and only available on the FDIC's Web site at www.FDIC.gov/deposit/deposits/index.html#video.
  • Insuring Your Deposits (English and Spanish versions), which is a short leaflet intended for bank customers that provides a basic overview of FDIC deposit insurance coverage. (The FDIC will release Chinese and Korean versions of this brochure in the third quarter of 2006.)
  • Your Insured Deposits (English and Spanish versions), which is a booklet that provides a comprehensive discussion of the FDIC's deposit insurance coverage rules. (The English version of Your Insured Deposits was released previously; the FDIC will release Chinese and Korean versions of this brochure in the third quarter of 2006.)
  • Financial Institution Employee's Guide to Deposit Insurance Coverage, which is the most comprehensive reference the FDIC provides on the rules for deposit insurance coverage. The guide can be downloaded from the FDIC's Web site at http://www.fdic.gov/deposit/deposits/financial/index.html.

Ordering Copies from the FDIC

Insured institutions can now place orders for free copies of these resources online at: https://vcart.velocitypayment.com/fdic/. Please allow four to six weeks for delivery.

All of the FDIC's updated resources can be viewed on the FDIC's Web site at: www.fdic.gov/deposit/deposits. Downloadable PDF files of Insuring Your Deposits and Your Insured Deposits are available in English and Spanish on the FDIC's Web site at http://www.fdic.gov/deposit/deposits/index.html.

  Sandra L. Thompson
Acting Director
Division of Supervision and Consumer Protection



Last Updated 10/17/2013 communications@fdic.gov