FDIC FAQs-How does the Dodd-Frank Deposit Insurance Provision differ from the expired TAGP?

Compliance > Deposit Operations > FDIC FAQs on Insurance and Payment of Interest on Demand Deposit Accounts
Q: How does the Dodd-Frank Deposit Insurance Provision differ from the expired TAGP?

A: There are three important differences between the Dodd-Frank Deposit Insurance Provision and the TAGP:

 The Dodd-Frank Deposit Insurance Provision applies to all IDIs with noninterest-bearing
    transaction accounts.
 The Dodd-Frank Deposit Insurance Provision does not include low-interest NOW
    accounts within the definition of noninterest-bearing transaction account.
 The FDIC does not charge a separate assessment (or premium) for the insurance of
    noninterest-bearing transaction accounts under the Dodd-Frank Deposit Insurance
    Provision.

This can be found in - FAQ#3 of FDIC’s FAQs.  FDIC’s FAQs can be found at: http://www.fdic.gov/deposit/deposits/unlimited/faq.pdf

Add Feedback