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Financial Institution Letter
Updated Financial Institution Employee's Guide to Deposit Insurance
Latest Version Includes Multiple Examples to Better Understand Deposit Insurance Ownership Categories
April 27, 2016
Notes
 

Summary:

The FDIC has updated the Financial Institution Employee's Guide to Deposit Insurance . The Guide is designed primarily as a resource for bank employees to understand the FDIC's rules and requirements for deposit insurance coverage so they can assist depositors in understanding FDIC deposit insurance coverage.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised institutions.

Highlights:

The updated version of the Financial Institution Employee's Guide to Deposit Insurance is now available as a PDF on the FDIC website at https://www.fdic.gov/deposit/DIGuideBankers.html .

The latest version of the Guide contains numerous examples for determining deposit insurance coverage for all deposit insurance ownership categories.

The Guide contains a variety of scenarios regarding informal and formal revocable trusts to address common situations and clarify misconceptions associated with these two ownership categories.

Continuation of FIL-30-2016 

Distribution:

  • FDIC-Insured Institutions

Suggested Routing:

  • Chief Executive Officer
  • Head of Deposit Insurance and Branch Operations
  • Chief Compliance Officer
  • Training Officer
  • Branch Managers

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).

Financial Institution Letters 
FIL-30-2016 
April 27, 2016

Deposit Insurance Coverage 
Financial Institution Employee's Guide to Deposit Insurance 

The FDIC has revised the Financial Institution Employee's Guide to Deposit Insurance that primarily is for bank employees. It's designed to give in-depth explanations of the 14 ownership categories. The Guide also includes comprehensive examples for the nine most-common ownership categories.

There are numerous examples and scenarios provided in the Guide regarding informal and formal revocable trusts. The FDIC receives thousands of calls each year on these ownership categories both from bankers and consumers. This Guide attempts to clearly explain the deposit insurance requirements for these trusts and clarify many misconceptions for these two ownership categories.

FDIC Online Access 

The Financial Institution Employee's Guide to Deposit Insurance is available online at https://www.fdic.gov/deposit/DIGuideBankers.html . Bankers desiring to have a printed copy can download the PDF file from the website.

For help related to any deposit insurance coverage questions contained in the Financial Institution Employee's Guide to Deposit Insurance , please contact the FDIC Call Center.

FDIC Call Center at 1-877-275-3342 
Hours of operation are 8:00 a.m. - 5:15 p.m. (ET) Monday – Friday.

Additional Related Topics:

  • FDIC Deposit Insurance Regulations 12 C.F.R. Part 330
FIL-30-2016
Attachments
Last Updated: April 27, 2016