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FDIC Approves Temporary Unlimited Deposit Insurance Coverage For Noninterest-Bearing Transaction Accounts

Tuesday, November 9, 2010 - 9:15 AM
The FDIC Board approved a rule today to provide temporary unlimited coverage for noninterest-bearing transaction accounts. This will become effective on December 31, 2010, and will end on December 31, 2012.

Refer to the FDIC's press release for more details.

This seems like it won't help most readers of this blog who want to earn interest on their savings. I can see it helping businesses who have to maintain a sizable liquid amount to cover payroll and other business expenses. I guess it might help some consumers who have just sold their house and will soon be using the money for a new house.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708