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FDIC Deposit Insurance Coverage Final Rule

September 9, 2009

Summary

On September 9, 2009, the FDIC Board of Directors approved a rule to finalize: (1) the deposit insurance coverage regulations to reflect the extension of the temporary increase in the standard maximum deposit insurance amount (SMDIA) to $250,000 through December 31, 2013, and (2) the 2008 interim rules regarding revocable trust accounts and mortgage servicing accounts.

Highlights

  • The final rule updates the FDIC's deposit insurance regulations and related examples to reflect a law signed in May 2009 extending the temporary increase in the SMDIA to $250,000 through December 31, 2013. (See FDIC FIL-22- 2009.)
  • The rule finalizes, without substantive changes, revisions to the revocable trust account regulations adopted by the FDIC in September 2008. (See FDIC FIL-99-08.) The revised regulations clarify that the FDIC will consider information in an insured institution's electronic deposit account records to determine if the titling requirement for revocable trust accounts is satisfied.
  • The rule finalizes, without substantive changes, the revisions to the mortgage servicing account regulations adopted by the FDIC in October 2008. (See FDIC FIL-111-08.)
FIL-53-2009
Attachment(s)
Contact(s)
FDIC Call Center at 1-877-275-3342

Last Updated: September 9, 2009