Can I exclude a financial institution from participating in the laddering auctions?
Yes, as with our standard CD and High-Yield Savings auctions you may exclude up to ten financial institutions from the auction using advanced options. For example, customers may want to exclude a particular bank if they have deposits at that bank that are held in such a way that their total deposits have reached, or are close to reaching, the temporary maximum amount of FDIC insurance coverage of $250,000 (which includes principal and any interest). Or, for other reasons, you may choose to exclude a specific bank or credit union by name. Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor. (This supersedes the October 3, 2008 changes.) For detailed information about this change, please visit: http://www.fdic.go
