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Date Recommended: August 21, 2008

Your insured deposits

This guide describes the Federal Deposit Insurance Corporation's rules for insurance coverage of bank and savings association deposits.

The FDIC – short for the Federal Deposit Insurance Corporation - is an independent agency of the United States government. The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

If a depositor’s accounts at one FDIC-insured bank or savings association total $100,000 or less, the deposits are fully insured. A depositor can have more than $100,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements. In addition, federal law provides for insurance coverage of up to $250,000 for certain retirement accounts.

This guide describes the FDIC’s rules for insurance coverage of bank and savings association deposits and answers frequently asked questions about the FDIC’s insurance rules. The guide is intended primarily for depositors who need a comprehensive explanation of the FDIC’s rules, including the requirements to qualify for more than $100,000 in insurance coverage.

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