BANKING AFFAIRS

Detailed explanation-1: -Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank-it’s how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250, 000 per depositor, per insured bank, for each account ownership category.

Detailed explanation-2: -The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system.

Detailed explanation-3: -The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for coverage over $250, 000 if they have funds in different ownership categories and all FDIC requirements are met.

Detailed explanation-4: -The standard deposit insurance amount is $250, 000 per depositor, per insured bank, for each account ownership category. The FDIC insures deposits that a person holds in one insured bank separately from any deposits that the person owns in another separately chartered insured bank.

Detailed explanation-5: -The FDIC protects the money depositors place in insured banks in the unlikely event of an insured-bank failure. Each depositor is insured to at least $250, 000 per insured bank. FDIC deposit insurance covers all types of deposits held at an insured bank.