NOTICE
OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR
TRANSACTION ACCOUNTS
All funds in
a “noninterest-bearing transaction account” are insured in
full by the Federal Deposit Insurance Corporation from
December 31, 2010, through December 31, 2012. This temporary
unlimited coverage is in addition to, and separate from, the
coverage of at least $250,000 available to depositors under
the FDIC’s general deposit insurance rules.
The term
“noninterest-bearing transaction account” includes a
traditional checking account or demand deposit account on
which the insured depository institution pays no interest.
It also includes Interest on Lawyers Trust Accounts
(“IOLTAs”). It does not include other accounts, such
as traditional checking or demand deposit accounts that may
earn interest, NOW accounts and money-market deposit
accounts.
For more information about
temporary FDIC insurance coverage of transaction accounts,
visit
www.fdic.gov