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Federal Deposit
Insurance Corporation

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

Financial Institution Letters

FIL-30-2016
April 27, 2016

Updated Financial Institution Employee's Guide to Deposit Insurance

Latest Version Includes Multiple Examples to Better Understand Deposit Insurance Ownership Categories

Printable Format:

FIL-30-2016 - PDF (PDF Help)

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:

Suggested Routing:

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Contacts:

Note:

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's website at https://www.fdic.gov/news/news/financial/2016/

To receive FILs electronically, please visit https://www.fdic.gov/about/subscriptions/fil.html.

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.


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