All funds in a “noninterest-bearing transaction
account” are insured in full by the Federal Deposit Insurance
Corporation from December 31, 2010, through December 31, 2012. This
temporary, unlimited coverage is in addition to, and separate from,
the coverage of at least $250,000 available to depositors under the
FDIC’s general deposit insurance rules. The term
“noninterest-bearing transaction account” includes a traditional
checking account or demand deposit account on which the insured
depository institution pays no interest. It also includes
Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other
accounts, such as traditional checking or demand deposit accounts
that may earn interest, NOW accounts, and money-market deposit
accounts.
For more information about temporary FDIC insurance
coverage of transaction accounts, visit www.fdic.gov.
