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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 10th Anniversary Edition - Fall 2003

Extra Tip on... Buying a Bank CD from a Broker
Brokers sometimes can negotiate a higher interest rate on bank-issued certificates of deposit, and these can be good investments. However, broker-sold CDs can be complex and may carry more risks than CDs sold directly by banks. Examples: Your ability to lock in a good interest rate for a long time is restricted if the bank can "call" (redeem) the broker-sold CD early. Also, if you need to withdraw the CD prematurely, under some circumstances, the broker might sell your CD at a loss.

Excerpted from "Should You Buy a Bank CD from a Broker?," Fall 2000.




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Last Updated 12/12/2003 communications@fdic.gov