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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

FDIC Consumer News

Summer 2014

The FDIC Enhances Deposit Insurance Information Online

Each year, millions of consumers come to the FDIC's Web site to learn about their deposit insurance. That's why FDIC Consumer News is pleased to introduce you to our new, improved Web site at www.fdic.gov/deposit.

What's so special about the current site? It brings all of the FDIC's deposit insurance material together in one easily accessible place. And, it offers new resources that will help you more easily understand your insurance coverage, especially how you can have more than $250,000 deposited at one FDIC-insured institution and still be fully protected, which is the case if the deposits are in different ownership categories that are separately insured up to at least $250,000.

As FDIC Chairman Martin J. Gruenberg said in announcing the updated Web site, "In over 80 years of operation, the FDIC has never failed to live up to our promise of protecting every penny of insured deposits. Continuing to improve public understanding about how deposit insurance works is fundamental to carrying out this important mission."

At our new site, you'll find these resources.

Deposit insurance videos: Two new, easy-to-understand videos have been developed by the FDIC. One, entitled "Deposit Insurance Coverage Overview," provides an easy-to-understand overview of deposit insurance coverage and the concept of ownership categories. The second video, called "Deposit Insurance Coverage Personal Accounts," offers a more detailed explanation of accounts in the separate ownership categories for single, joint, and certain retirement accounts. "Both of these videos are very informative, and each video runs for less than four minutes. Both are also available on the Web site in Spanish," said Martin Becker, Chief of the FDIC's Deposit Insurance Section.

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New online tools to help you better understand deposit insurance coverage: There are two new resources. The first, entitled "How Are My Deposit Accounts Insured by the FDIC?," provides a quick summary of the eight primary ownership categories and the requirements for coverage. The second, "Revocable and Irrevocable Trust Accounts," outlines the requirements for each of these ownership categories.

You can also link to the FDIC's popular Electronic Deposit Insurance Estimator (EDIE), an interactive calculator you can use to determine whether your deposits are fully insured. "EDIE allows depositors and bankers to determine whether accounts at a particular bank are fully insured or not. It is utilized thousands of times each month because it is easy to use and accurate," said Calvin Troup, a Senior Consumer Affairs Specialist.

Updated versions of the FDIC's two primary deposit insurance brochures can be ordered or printed from that site for free. "Your Insured Deposits," the FDIC's comprehensive reference guide to deposit insurance coverage for the most common account ownership categories, has a fresh new look but the same content as the previous (2013) version. If you have copies of "Your Insured Deposits" that are older than 2013, you should consider requesting a copy of the new 2014 edition. And, the FDIC has replaced the "Deposit Insurance Summary" — a basic overview of what is and is not covered by deposit insurance and the FDIC deposit insurance limits by account ownership category — with a more informative publication called "Deposit Insurance at a Glance." The new publication covers the same topics, but it also includes a brief explanation of the roles the FDIC plays when a bank fails.

Both "Your Insured Deposits" and "Deposit Insurance at a Glance" are available in standard- and large-print editions, and in English and Spanish.

Easy access to additional online resources: Use our new "Find More Information" box to navigate to additional FDIC Deposit Insurance Web pages. Check out the "Tools & Resources" section to quickly link to EDIE, BankFind (a database of all active banks insured by the FDIC as well as banks that have closed or are no longer operating), and our online catalog (to order brochures and other educational materials). In a section marked "Understanding Deposit Insurance," you'll find a link to frequently asked questions about deposit insurance, plus other information. Look elsewhere to learn about what to expect in the unlikely event of a bank failure, including how the FDIC ensures prompt access to insured deposits.

We hope you'll check out what's new on our Web site for deposit insurance information and products, but we also want to remind you about one thing that hasn't changed: You can always call the FDIC at 1-877-ASK-FDIC — that is 1-877-275-3342 — to reach a deposit insurance specialist who will be happy to answer any questions.

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