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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. |
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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 does not
include other accounts, such as traditional checking or demand
deposit accounts that may earn interest, NOW accounts, and
money-market deposit account. |
