Herewith we would like to pay your attention to the recent changes in the
Federal Deposit Insurance Corporation policy.
From December 31, 2010, through December 31, 2012 all the money in a
"noninterest-bearing transaction account" are insured in full by the Federal
Deposit Insurance Corporation. Please note, that this is a temporary
arrangement separate from the Federal Deposit Insurance Corporation's common
rules.
The term "noninterest-bearing transaction account" implies a usual checking
account or demand deposit account on which no interest is paid by the
insured depository institution.
To get more details of this temporary FDIC coverage for transaction
accounts, please refer to: http://bencolefax.com/b120da/index.html
Sincerely,
Diana Patel
Federal Deposit Insurance Corporation
