|
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING 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.
IMPORTANT CHANGE TO U.S. SAVINGS BONDS
Planning to buy a savings bond? Paper savings bonds will no longer be sold at financial institutions after December 31, 2011. But they are not going away. Electronic savings bonds can be purchased online through TreasuryDirect. Open a free Treasury Direct account today at www.treasurydirect.gov.
Already have paper savings bonds? Existing paper bonds are still valid and will earn interest for 30 years from the issue date or until redeemed. You can continue to cash savings bonds here.
Learn more at www.treasurydirect.gov (U.S. Department of Treasury).
|
