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FEDERAL DEPOSIT INSURANCE CORPORATION
What We Will Cover Today
- Deposit insurance coverage fundamentals
- Determining deposit insurance coverage
- Providing public assistance and outreach information
- Additional deposit insurance resources
2016 IADI Asia-Pacific and Regional Committee 14 th Annual Meeting - - PowerPoint PPT Presentation
2016 IADI Asia-Pacific and Regional Committee 14 th Annual Meeting - - PowerPoint PPT Presentation
2016 IADI Asia-Pacific and Regional Committee 14 th Annual Meeting and International Conference Raising Public Awareness on Depositor Protection June 15 th -17 th | lloilo Convention Center (ICC), lloilo City, Philippines What We Will Cover Today
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FEDERAL DEPOSIT INSURANCE CORPORATION
Brief Summary of Deposit Insurance
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Date Insurance Coverage Changes January 1, 1934 $ 2,500 July 1, 1934 $ 5,000 1950 $ 10,000 1966 $ 15,000 1969 $ 20,000 1974 $ 40,000 1980 $ 100,000 2006 $100,000 with Certain Retirement Accounts up to $250,000 2008 Temporary increase of basic deposit insurance coverage amount to $250,000. Full guarantee for noninterest-bearing transaction accounts through 12/31/2010 for TAGP participating insured banks. 2010 Unlimited coverage for noninterest-bearing transaction accounts from 12/31/2010 through 12/31/2012 at all FDIC-insured banks. Permanent increase of basic deposit insurance coverage amount to $250,000 December 31, 2012 Expiration of unlimited coverage for noninterest-bearing transaction accounts January 1, 2013 The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
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FEDERAL DEPOSIT INSURANCE CORPORATION
Introduction to Ownership Categories
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Owner = business/organization Owner = government entity Category 1 Single Accounts Owner = mortgagee/lender Category 2 Joint Accounts Category 3 Revocable Trust Accounts Category 4 Irrevocable Trust Accounts Category 5 Certain Retirement Accounts Category 6 Employee Benefit Plan Accounts
Owner = individual
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FEDERAL DEPOSIT INSURANCE CORPORATION
Deposit Insurance Videos on FDIC.gov
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FEDERAL DEPOSIT INSURANCE CORPORATION
Roles & Responsibilities
1. Respond to complex deposit insurance questions received from the public and the banking industry 2. Develop educational tools and resources designed to inform the public and the banking industry about the deposit insurance coverage rules 3. Conduct deposit insurance outreach for financial institution employees to educate bankers about the deposit insurance rules 4. Promote public awareness and understanding of the FDIC’s deposit insurance coverage
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FEDERAL DEPOSIT INSURANCE CORPORATION
Deposit Insurance Inquiry Activity
7 2008 2009 2010 2011 2012 2013 2014 2015
Deposit Insurance Related Calls to 1-877-275-3342 (1-877-ASK FDIC)
652,275 246,563 149,032 77,207 50,844 44,540 40,520 38,664
Deposit Insurance related calls to 1-877-ASK FDIC
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FEDERAL DEPOSIT INSURANCE CORPORATION
Electronic Deposit Insurance Estimator (EDIE)
8 www.fdic.gov/edie/
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FEDERAL DEPOSIT INSURANCE CORPORATION
Electronic Deposit Insurance Estimator (EDIE)
9 NOT INSURED INSURED www.fdic.gov/edie/
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FEDERAL DEPOSIT INSURANCE CORPORATION
EDIE Web Traffic
2008 2009 2010 2011 2012 2013 2014 2015
Electronic Deposit Insurance Estimator (EDIE) User Views
15,356,716 1,990,422 1,944,429 978,186 928,368 892,055 764,730 740,137
Electronic Deposit Insurance Estimator (EDIE) is available in English and Spanish.
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FEDERAL DEPOSIT INSURANCE CORPORATION
Banker Telephone Seminars
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https://www.fdic.gov/deposit/seminars.html
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FEDERAL DEPOSIT INSURANCE CORPORATION
Deposit Insurance Seminars YouTube Videos
12 https://www.youtube.com/user/FDICchannel
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FEDERAL DEPOSIT INSURANCE CORPORATION
Outreach Activities
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2015 On-site Banking Industry Conferences Sponsoring Organization(s) Audience # of Attendees American Bankers Association Conference for Community Bankers Bankers 1,600 Independent Community Bankers of America Community Banking LIVE Convention & Expo Bankers 1,500 National Bankers Association Legislative Conference Bankers 50 American Association of Retired Persons Consumers 12,000 Alabama Bankers Association Annual Convention and Trade Show Bankers 490 American Bankers Association National Regulatory & Compliance Conference Bankers 1,600 National Council of La Raza Annual Conference Consumers 3,000 Minority Depository Institutions Conference Bankers 490 Pennsylvania Community Bankers Association Bankers 347 National Bankers Association Annual Convention Bankers 103 BankNext Bankers 75 American Bankers Association National Conference Bankers 1,000 Bank Horizons Bankers 250 TOTAL 22,505
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FEDERAL DEPOSIT INSURANCE CORPORATION
Public Website: www.FDIC.gov
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FEDERAL DEPOSIT INSURANCE CORPORATION
Deposit Insurance Homepage (Brochures)
15 www.fdic.gov/deposit/
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FEDERAL DEPOSIT INSURANCE CORPORATION
FDIC Brochures (Tagalog)
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FEDERAL DEPOSIT INSURANCE CORPORATION
FDIC Brochures (Chinese)
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FEDERAL DEPOSIT INSURANCE CORPORATION
FDIC Brochures (Korean)
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FEDERAL DEPOSIT INSURANCE CORPORATION
FDIC Brochures (Vietnamese)
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FEDERAL DEPOSIT INSURANCE CORPORATION
Deposit Insurance Brochures Distributed
20 2008 2009 2010 2011 2012 2013 2014 2015
Your Insured Deposits & Deposit Insurance Summary Brochures Distributed (English)
4.5 million 1.5 million 3 million 2.4 million 1.4 million 1.43 million 1.17 million 1.03 million
Deposit Insurance Brochures are also available in Spanish, Tagalog, Chinese (traditional & simplified), Korean, and Vietnamese.
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FEDERAL DEPOSIT INSURANCE CORPORATION
Financial Institution Employee’s Guide
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https://www.fdic.gov/deposit/DIGuideBankers.html
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FEDERAL DEPOSIT INSURANCE CORPORATION
FDIC’s Online Catalog
22 https://catalog.fdic.gov/
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FEDERAL DEPOSIT INSURANCE CORPORATION