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| Banking & Insurance |
Bank insurance may be a cover that works as a guarantee of bank deposits by the Federal Deposit Insurance Corporation, FDIC. it had been Created back in 1989. The bank insurance fund is that the federal fund that insure bank deposits of the national also because the state banks. However, it covers only those banks that are members of the Federal Reserve System system.
The Bank insurance helps individuals for his or her deposits within the bank account of the banks against the insolvency of the full service bank . every depositor is a minimum of insured for $250,000 per bank.
FDIC Bank Insurance Covers:
Checking accounts
Savings accounts
Negotiable Order of Withdrawal (NOW) accounts
Time deposits like certificates of deposit (CDs)
Money market deposit accounts (MMDAs)
FDIC Bank Insurance doesn't Cover:
Stock investments
Bond investments
Safe deposit boxes or their contents
Life insurance policies
Municipal securities
Mutual funds
Annuities
U.S. Treasury bills, bonds or notes
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