On October 3, 2008, the FDIC increased the amount of the standard maximum coverage (SMDA) for deposit accounts from $100,000 to $250,000 under the FDIC's general deposit insurance rules. On September 9, 2009, the FDIC Board of Directors approved a rule to finalize the deposit insurance coverage regulations to reflect the extension of the temporary increase in the standard maximum deposit insurance amount (SMDA) to $250,000 through December 31, 2013.
If you have any questions about FDIC coverage limits and requirements, please visit
www.myFDICinsurance.gov, call toll-free 1-877-ASK-FDIC, or ask a representative at your local branch.
