Does the FDIC insure national banks?
All national banks are required to insure customer deposits with insurance from the FDIC. At insured banks, the FDIC insures all deposits up to the insurance limit. This includes money deposited in the following accounts: • checking accounts • NOW accounts • savings accounts • money market deposit accounts • certificates of deposit (CDs) The FDIC does not insure the money you invest in the following products, even if they were purchased from a bank with FDIC insurance: • stocks • bonds • mutual funds • life insurance policies • annuities • municipal securities From the FDIC Web site: “All FDIC-insured banks must meet high standards for financial strength and stability. The FDIC, with other federal and state regulatory agencies, regularly reviews the operations of insured banks to ensure these standards are met. Even with these safeguards, some insured banks fail. If your insured bank fails, FDIC insurance will cover your deposits, dollar for dollar, including principal and any accrued
All national banks are required to insure customer deposits with insurance from the FDIC. At insured banks, the FDIC insures all deposits up to the insurance limit. This includes money deposited in the following accounts: • checking accounts • NOW accounts • savings accounts • money market deposit accounts • certificates of deposit (CDs) The FDIC does not insure the money you invest in the following products, even if they were purchased from a bank with FDIC insurance: • stocks • bonds • mutual funds • life insurance policies • annuities • municipal securities From the FDIC Web site: “All FDIC-insured banks must meet high standards for financial strength and stability. The FDIC, with other federal and state regulatory agencies, regularly reviews the operations of insured banks to ensure these standards are met. Even with these safeguards, some insured banks fail. If your insured bank fails, FDIC insurance will cover your deposits, dollar for dollar, including principal and any accrued
Related Questions
- Is the National Credit Union Share Insurance Fund (NCUSIF) similar to the FDIC, which covers banks and savings and loan institutions? How strong is it?
- What if my combined balance from both Farmers National Bank and Merchants National Bank exceeds $100,000, am I still insured under the FDIC?
- Does the FDIC insure national banks?
