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Health
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Your Insured Deposit联邦储蓄保险 联邦储蓄保险公司(FDIC) 是联邦政府的一个独立机构。它是在 1933 年由国会建立起来帮助维护我们的银行业务系统, 和在财政机构倒闭的情况下保护国家的货币。FDIC保险的储款会得到美国政府支持。 任何个人或团体都能有FDIC 保险的储蓄。储户无须是美国公民或美国居民。并不是所有的银行或储款机构都有联邦储蓄保险，每一个被保险的银行或储款机构都必须把被保险的标志(老鹰)贴出来。FDIC 的保险不包括证券, 共同基金, 和类型的投资。银行或储款机构的债权人(除储户之外)和股东不会受到联邦储蓄的保护。FDIC 的保险包括所有类型的存款。例如，储蓄存款，支票存款，定期存款，等等。每个储户的第一个$100,000存款是可以被保的。储户可以使用不同的银行来增加被保险的金额。例如，一个储户在每6家不同的银行都有$100,000存款，如果这6家银行都有联邦储蓄保险的话，那么这个储户的被保险金额就高达$600,000。但是如果这个储户在同一家银行或是同一家银行的不同分行有$600,000存款的话，他的保险金额就只有$100,000。 Your Insured DepositThis booklet describes the deposit insurance coverage provided by the Federal Deposit Insurance Corporation (FDIC) to depositors of insured banks and insured savings associations. The FDIC is an independent agency of the U.S. Government. It was established by Congress in 1933 to insure bank deposits, help maintain sound conditions in our banking system, and protect the nation's money supply in case of financial institution failure. FDIC-insured deposits are backed by the full faith and credit of the United States. Table of Contents
General Insurance Questions
Any person or entity can have FDIC insurance on a deposit. A depositor does not have to be a United States citizen, or even a resident of the United States. The FDIC insures deposits in some, but not all, banks and savings associations. FDIC-insured institutions must display an official sign at each teller window or teller station. Insured savings associations display the official savings association (eagle) sign. Insured banks display either the official bank (FDIC) sign or the official savings association (eagle) sign. Both signs are shown at the end of this booklet. In the event of a bank failure, federal deposit insurance protects deposits that are payable in the United States. Deposits that are only payable overseas, and not in the United States, are not insured. Securities, mutual funds, and similar types of investments are not covered by deposit insurance. Creditors (other than depositors) and shareholders of a failed bank or savings association are not protected by federal deposit insurance. All types of deposits received by a financial institution in its usual course of business are insured. For example, savings deposits, checking deposits, deposits in NOW accounts, Christmas Club accounts, and time deposits (including certificates of deposit, which are sometimes called "CDs") are all insured deposits. Cashiers' checks, officers' checks, expense checks, loan disbursement checks, interest checks, outstanding drafts, negotiable instruments and money orders drawn on the institution also are insured. Collectively, these types of instruments are referred to as "official checks." Certified checks, letters of credit, and travelers' checks, for which an insured depository institution is primarily liable, also are insured when issued in exchange for money or its equivalent, or for a charge against a deposit account. Treasury securities (bills, notes, and bonds) purchased by an insured depository institution on a customer's behalf are not insured by the FDIC. However, they remain the property of the customer. When an insured financial institution is closed and the FDIC is named its receiver, the customer has two options. First, the customer can present a receipt documenting to the FDIC's satisfaction his or her ownership rights. The FDIC as receiver will give the customer a release that the customer can present to a Federal Reserve Bank or the Department of the Treasury to prove ownership. Alternatively, the FDIC as receiver can hold all Treasury securities and make a distribution upon maturity in the same manner and extent as the closed institution would have done. No. Deposits in different institutions are insured separately. But, if an institution has one or more branches, the main office and all branch offices are considered to be one institution. So, if you have deposits at the main office and at one or more branch offices of the same institution, the deposits are added together when calculating deposit insurance coverage. Financial institutions owned by the same holding company, but separately chartered, are separately insured. The FDIC presumes that funds are owned as shown on the "deposit account records" of the insured depository institution. If the FDIC determines that the deposit account records of the institution are unambiguous, those records are binding on the depositor. No other records are considered in determining legal ownership. Generally, the FDIC will not recognize a fiduciary relationship (e.g., trustee, agent, nominee, guardian, executor, custodian, or conservator) unless the relationship is specifically disclosed in the deposit account records. Also, the details of the fiduciary relationship and the interests of the parties in the account must be ascertainable one of two ways: either from the deposit account records of the depository institution or from records maintained in good faith and in the regular course of business by the depositor, or by some person or entity that has agreed to maintain records for the depositor. The "deposit account records" of an insured depository institution are account ledgers, signature cards, certificates of deposit, passbooks, and certain computer records. However, account statements, deposit slips, items deposited, and cancelled checks are not considered deposit account records for purposes of calculating deposit insurance. Yes. Starting July 1, 1998, for six months after the death of a deposit owner, the FDIC will insure that person's accounts as if he or she were still alive. During this "grace period," the insurance coverage of the deposit owner's accounts will not change unless the accounts are restructured by those authorized to do so. The FDIC applies the grace period only if its application would increase, rather than decrease, deposit insurance coverage. Example: A and B own a qualifying joint account of $100,000 for which they each have a right of survivorship. B also has a single ownership (or individual) account of $100,000 at the same FDIC-insured institution. If A dies, for six months after A's death the FDIC will still insure the A and B account as a joint account, even though B, as A's survivor, has inherited A's ownership interest in the account. Without the grace period, B's increased ownership interest in the joint account would be added to his or her single ownership account and insured to a limit of $100,000. Basic Insurance Limit
The basic insured amount of a depositor is $100,000. Accrued interest through the date of the financial institution's closing (failure) is included when calculating insurance coverage. Deposits maintained in different categories of legal ownership are separately insured. So, you can have more than $100,000 insurance coverage in a single institution. The most common categories of ownership are single (or individual) ownership, joint ownership, and testamentary accounts. Separate insurance is also available for funds held for retirement purposes, e.g., Individual Retirement Accounts, Keoghs, and pension or profit-sharing plans (see Questions 35, 36 and 37). No. Federal deposit insurance is not determined on a per-account basis. You cannot increase FDIC insurance by dividing funds owned in the same ownership category among different accounts. The type of account - whether checking, savings, certificate of deposit, or outstanding official check such as a cashier's check (see Question 4), or other form of deposit - has no bearing on the amount of insurance coverage. Furthermore, the use of Social Security numbers or tax identification numbers does not determine insurance coverage. Single Ownership Accounts
All single ownership accounts established by, or for the benefit of, the same person are added together. The total is insured up to a maximum of $100,000, including principal and interest. If an individual owns and deposits funds in his or her own name, but then gives another person the right to withdraw funds from the account, the account will be insured as a joint ownership account. There are two exceptions to this rule. First, withdrawals by a person other than the owner are permitted pursuant to a Power of Attorney. Second, withdrawals by a person other than the owner are permitted if the deposit account records clearly indicate, to the FDIC's satisfaction, that the funds are owned by one person and that the other signatory is authorized to withdraw funds only on the owner's behalf. Example of Insurance for Single Ownership Accounts The following example shows the maximum amount of deposit insurance coverage available for the most common types of single ownership accounts.
Joint Accounts
A joint account is an account owned by two or more individuals. Testamentary (Payable-On-Death) Accounts
A testamentary account is an account that evidences an intention that the funds will belong to a named beneficiary upon the death of the owner (grantor or depositor) of the testamentary account. Testamentary accounts are sometimes known as tentative or "Totten" trust accounts, revocable trust accounts, or "payable-on-death" accounts. Testamentary accounts make up another legal ownership category and are, therefore, insured separately from single ownership accounts and joint accounts of the beneficiary or the owner. In order to qualify for this separate insurance coverage, however, a testamentary account must meet all of the following requirements: Each owner meeting these requirements is insured up to $100,000 per qualifying beneficiary at each insured institution. Yes. If a testamentary account is maintained by co-owners, insurance will be determined as if each co-owner maintained a separate testamentary account for each beneficiary. The co-owners' interests are deemed to be equal unless otherwise stated in the deposit account records. If there are several beneficiaries, their interests are deemed to be equal unless otherwise specified in the deposit account records. Example of Insurance for Testamentary Accounts
An account established by a husband and wife solely for their benefit is treated as a joint account, not a testamentary account. Funds deposited in such an account are added to any other joint ownership funds held by the husband or wife. If a beneficiary of a testamentary account is not the parent, sibling, spouse, child, or grandchild of the owner, the funds attributable to the nonqualifying beneficiary are insured as the owner's single ownership funds. For example, if A establishes a testamentary account for the benefit of his friend (a nonqualifying beneficiary), all of the funds in the account are added to any other single ownership funds owned by A and the sum is insured to a maximum of $100,000. When a testamentary account is maintained by multiple owners for multiple beneficiaries, and some beneficiaries qualify for separate insurance coverage but others do not, the funds are first divided between the co-owners, and then again divided between the beneficiaries as to each co-owner. Funds attributable to the nonqualifying beneficiary are then added to any other single ownership funds of each respective owner. Assume, for example, that B establishes a testamentary account for the benefit of her daughter and nephew. Deposit insurance coverage is calculated by first allocating one-half of the funds to the daughter and one-half of the funds to the nephew. The funds allocated to the daughter (a qualifying beneficiary) are then insured separately from B's single ownership accounts or joint accounts. However, the funds allocated to the nephew (a nonqualifying beneficiary) are added to any other single ownership funds owned by B and the sum is insured up to a maximum of $100,000. No. If an insured depository institution should fail, however, the owner of the testamentary account may be required to provide proof of the owner's relationship to the beneficiaries. Yes. Each co-owner is entitled to insurance coverage as to each beneficiary only during the co-owner's lifetime. Upon the death of any one of the co-owners, insurance coverage decreases (subject to the "grace period" explained below). When both co-owners of a revocable trust die, the funds in the account are insured as the single ownership funds of the beneficiary. If there are multiple beneficiaries, the funds are insured as joint ownership funds. Starting July 1, 1998, for six months after the death of a deposit owner, the FDIC will insure that person's accounts as if he or she were still alive. During this "grace period," the insurance coverage of the deposit owner's accounts will not change unless the accounts are restructured by those authorized to do so. The FDIC applies the grace period only if its application would increase, rather than decrease, deposit insurance coverage. Revocable Living Trusts
A trust is a means by which an individual transfers legal ownership of funds to a trustee with the intention that the funds will be used by the trustee for the benefit of a designated person. A revocable living trust is one in which the trust's grantor reserves the right to revoke the trust. A revocable living trust is established through a written trust document. (Testamentary accounts are a special type of revocable living trust and are discussed in Questions 23 through 29.) Revocable living trust funds are insured as the individual funds of the grantor unless they meet the special requirements for separate coverage of testamentary accounts. (See Question 32.) This means that funds deposited under the provisions of a revocable living trust will be added to any other single ownership funds of the grantor and the total will be insured up to a maximum of $100,000. If a revocable living trust has been created by more than one grantor, funds deposited pursuant to the trust will be treated as the individually owned funds of each such grantor. The trust funds will be divided between the grantors, added to any other single ownership funds of each such grantor, and the sum will be insured up to $100,000 per owner. Under certain circumstances, however, the trust funds are insured as the jointly owned funds of the grantors. (See Question 32). Funds deposited pursuant to a revocable living trust may be separately insured from the grantor's individually owned funds if the revocable living trust document and the deposit account records satisfy the requirements of testamentary accounts. In this situation, the grantor would be insured up to $100,000 for each qualifying beneficiary. The requirements follow: If the revocable living trust document and supporting deposit account records fail to satisfy any of the above requirements, funds deposited pursuant to the revocable living trust will be insured as the single ownership funds of the grantor(s) or in some cases as the jointly owned funds of the grantors. Irrevocable Trusts
Irrevocable trusts are another legal ownership category. The interest of each beneficiary in an account established under an irrevocable trust is insured up to $100,000, separately from other accounts held by the grantor, trustee, or beneficiary, if all of the following requirements are met: Kinship is not a factor in determining coverage of irrevocable trusts. In cases where the beneficiary has an ownership interest in more than one trust created by the same grantor, the beneficiary's interests in all accounts established under those trusts are added together and the sum is insured to a maximum of $100,000. When the ownership interests of the beneficiaries cannot be determined, insurance coverage for the entire trust is limited to a maximum of $100,000. Retirement Accounts
IRA and Keogh funds are separately insured from any non-retirement funds the depositor may have at an institution. But IRA and self-directed Keogh funds will be added together, and the combined total will be insured up to $100,000. IRA and self-directed Keogh funds will also be aggregated with certain other retirement funds, namely, those belonging to other self-directed retirement plans, and those belonging to so-called "457 Plan" accounts, if the deposits are eligible for pass-through insurance (see Question 37). The "457 Plans" are deferred compensation plans conforming to section 457 of the Internal Revenue Code that are established by state and local governments and nonprofit organizations. IRA and Keogh time deposits made before December 19, 1993, are insured separately from each other and from any other funds of the depositor. Such funds, however, become subject to the aggregation rules explained above when the deposits mature, roll over, or are renewed. Although subject to different tax treatment under the Internal Revenue Code, the new Roth IRA is treated the same as a traditional IRA for deposit insurance purposes. So, if a depositor has both a Roth IRA and a traditional IRA at an insured depository institution, the funds in those accounts would be added together and insured as explained in Question 35. The new "Education IRA," however, is not considered an IRA for deposit insurance purposes. Because of the required features of the account, an Education IRA is treated, for deposit insurance purposes, as an irrevocable trust account. So, the FDIC insures an Education IRA under the rules for irrevocable trust accounts explained in Question 33 of this pamphlet. The general rule is that deposits belonging to pension plans and profit-sharing plans receive "pass-through insurance," meaning that each participant's ascertainable interest in a deposit-as opposed to the deposit as a whole-is insured up to $100,000. In order for a pension or profit-sharing plan to receive pass-through insurance, the institution's deposit account records must specifically disclose the fact that the depositor (i.e., the plan itself or its trustee) holds the funds in a fiduciary capacity. In addition, the details of the fiduciary relationship between the plan and its participants, and the participants' beneficial interests in the account, must be ascertainable from the institution's deposit account records or from the records that the plan (or some person or entity that has agreed to maintain records for the plan) maintains in good faith and in the regular course of business. The general rule applies to: In all other cases, any deposit that a plan makes on or after December 19, 1992, does not receive pass-through insurance, but rather is insured as a whole up to a total of $100,000. If a deposit has pass-through insurance when it is made into an account, the deposit does not lose its pass-through insurance, even if the institution falls out of compliance with the standards for pass-through insurance. But once the institution falls out of compliance, any subsequent deposits that are made into that same account (including ones that are rollovers and renewals of earlier deposits) will not have pass-through insurance. THESE RULES ARE COMPLICATED. IF YOU ARE A PLAN PARTICIPANT AND WANT TO KNOW HOW YOUR PLAN'S DEPOSIT IS INSURED, WE SUGGEST THAT YOU CONSULT WITH YOUR PLAN ADMINISTRATOR FOR FURTHER DETAILS. Executor, Custodial, and Agent Accounts
Funds deposited by an executor or administrator for a deceased person's estate are added to any funds maintained in the name of the deceased. The sum is insured to a maximum of $100,000. All funds belonging to the estate of the deceased, whether held in the name of the deceased or deposited by the executor or administrator for the deceased's estate, are separately insured from funds owned by the executor, administrator, or beneficiary of the estate. Funds deposited by a guardian, custodian (whether or not court-appointed), or similar fiduciary are added to any other single ownership funds of the beneficiary and the total is insured up to a maximum of $100,000. The fiduciary relationship must be disclosed in the deposit account records. The details of the fiduciary relationship and the interests of the parties in the account must be ascertainable from the deposit account records of the depository institution or from records maintained in good faith and in the regular course of business by the depositor (or by some person or entity that has agreed to maintain records for the depositor). Funds deposited by an agent or nominee on behalf of an individual or entity (the owner) are added to any other single ownership funds of the actual owner and insured up to $100,000 in the aggregate. If an agent (e.g., a title company or an attorney) is depositing funds on your behalf, you should ask if the agent is depositing the funds in the same institution where you have personally deposited your funds. The agent’s fiduciary capacity must be disclosed in the institution’s deposit account records. The name and ownership interest of each owner in the account must be ascertainable from the deposit account records of the depository institution or from records maintained in good faith and in the regular course of business by the agent (or by some person or entity that has agreed to maintain records for the agent). Special disclosure rules apply to multi-tiered fiduciary relationships. An agent may pool the funds of several owners into one account. If the disclosure rules are satisfied, the funds of each owner will be separately insured. Funds held by an agent, nominee, guardian, custodian, or conservator on behalf of two or more joint owners will be insured as a joint ownership account. For example, funds deposited by a real estate broker acting as agent for a husband and wife will be insured as the joint ownership funds of the husband and wife. Business Accounts
Deposits In Merged Institutions
Whenever two or more insured depository institutions merge, their deposits continue to be separately insured for six months from the date of the merger. Certificates of deposit assumed by another institution continue to be separately insured until the earliest maturity date after the end of the six-month period. Such certificates of deposit that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) will continue to be separately insured until the first maturity date after the six-month period. Such certificates of deposit that mature during the six-month period and are renewed on any other basis, or that are not renewed and become demand deposits, will be separately insured only until the end of the six-month period. Insurance Information on the InternetTo further help consumers and bankers learn about deposit insurance, and to provide information about the insurance coverage of specific groups of accounts, the FDIC has developed the Electronic Deposit Insurance Estimator (EDIE). The EDIE system is located on the FDIC’s Internet Web Site (www.fdic.gov) and consolidates all of the deposit insurance information available on the site in one easy-to-access location. EDIE is an interactive Internet application that allows consumers or bankers to enter information about an account or group of accounts at an FDIC-insured institution, and receive back a report that states whether the funds are fully insured. If any funds are uninsured, EDIE will identify them and explain why the funds are not covered. A person does not need to know the deposit insurance rules in order to use EDIE. The program asks simple questions about the names (ownership) and balances of accounts, then furnishes a report. Assisting users along the way is a red-haired, green-eyed helper, "EDIE." EDIE provides definitions of terms, examples, and other important information to make the system easy to use. To protect consumers’ privacy, no identifying information such as account numbers, Social Security numbers or bank names is asked. NoticeThis booklet provides examples of insurance coverage under the Federal Deposit Insurance Corporation’s rules on certain types of accounts commonly held by depositors in insured banks and insured savings associations. The information provided in this booklet is presented in a nontechnical way and is not intended to be a legal interpretation of the FDIC’s laws and regulations on insurance coverage. For greater detail concerning the technical aspects of insurance coverage, depositors or their counsel may wish to consult the Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) and the FDIC’s regulations relating to insurance coverage (12 C.F.R. Part 330). Depositors are advised that no person may, by any representations or interpretations, affect the extent of insurance coverage provided by the Federal Deposit Insurance Act and the rules and regulations for insurance of deposit accounts. For More InformationThe FDIC maintains regional offices in Atlanta, Boston, Chicago, Dallas, Kansas City, Memphis, New York, and San Francisco. Check your local directory for the appropriate telephone number or call 800-934-3342 for the address of the regional office serving you. Federal Deposit Insurance Corporation The official bank sign looks like this:
The official savings association sign looks like this:
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