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
Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site
at
www.fdic.gov/news/financial-institution-letters/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).
|
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://catalog.fdic.gov/
. 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.
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Sandra L. Thompson
Acting Director
Division of Supervision and Consumer Protection
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