Personal Finance Blog By MoneyRates - FDIC
Casting a wider net may pay when you shop for CD, savings, and money market rates
February 9, 2011
Changes in how FDIC insurance premiums are assessed could help small banks at the expense of larger ones, resulting in better rates from smaller banks.
Ask the expert: Are trust accounts FDIC insured?
November 9, 2010
Trust accounts can be a grey area of FDIC insurance, with coverage limits sometimes applying per beneficiary, and sometimes to the trust as a whole.
Ask the expert: Is gold safer than CDs and money market accounts?
October 19, 2010
Find out why gold probably isn't a better safe harbor than deposit accounts if you are concerned about the economy.
Will Your Savings Be Safe in 2014?
June 1, 2010
Before the financial crisis blew up two years ago and bank failures became a routine news item, you might not have thought much about FDIC insurance. So it's easy to understand how thousands of IndyMac Bank customers were caught underinsured when the bank failed in July 2008. At that time, the FDIC insurance limit was [...]
Strength of FDIC Fund Could Affect Bank Rates and Security
September 16, 2009
It has been widely reported that the FDIC's deposit insurance fund has been rapidly declining, raising concerns that it might require special funding soon to support the growing number of banks classified as troubled. In response, the FDIC has publicly clarified its accounting to show that the fund is not actually declining nearly as rapidly [...]
The FDIC Closes Four New Banks
February 16, 2009
Since last summer's high-profile bank failures of multi-billion dollar, IndyMac Bank and Washington Mutual Bank, most of the banks which have closed have been smaller in size and generally banks serving local markets. The FDIC has closed four more smaller-sized banks last week as the pace of bank failures in the United States has begun [...]
FDIC Proposes Capping Bank Rates Offered by Weak Banks
January 27, 2009
The FDIC has proposed tightening the caps on the rates that can be paid on CDs, money market accounts, savings accounts, and checking accounts for banks that are categorized as "Less Than Well Capitalized". Instead of using Treasury yields for calculating the ceiling on deposit rates, the FDIC proposes using national rate averages. The intended [...]
FDIC Bank Failures in 2008 by State
January 6, 2009
The final tally of banks which failed in 2008 was 25 which includes mega-banks Washington Mutual Bank and IndyMac Bank with over $1 billion in deposits. The FDIC insurance fund took a mighty hit, but with an increase in premiums and the ability to slowly sell-off assets of acquired banks the insurance fund is not [...]
Who or What is EDIE?
November 3, 2008
As the above public service announcement makes perfectly clear EDIE is an online tool developed by the FDIC to assist with questions regarding FDIC insurance on deposit accounts and the myriad of ownership classifications. Depositors can run through an online simulation of their bank deposits and receive a report which details insurance coverage. With the [...]
FDIC Announces Unlimited Insurance Coverage on Non-Interest Bearing Accounts
October 14, 2008
It would not be a typical fall day without a major financial announcement from Washington D.C. Today's new program is the FDIC announcement that all non-interest bearing accounts will be insured fully for participating instituions. This is a measure aimed at business payroll processing accounts and will stay in place until the end of 2009. [...]
