FDIC FAQs- Must all IDIs make available to depositors noninterest-bearing transaction accounts that are fully insured under the Dodd-Frank Deposit Insurance Provision?

Compliance > Deposit Operations > FDIC FAQs on Insurance and Payment of Interest on Demand Deposit Accounts
Q: Must all IDIs make available to depositors noninterest-bearing transaction accounts
that are fully insured under the Dodd-Frank Deposit Insurance Provision?

A: No. IDIs are not required by any statute or regulation to provide noninterest-bearing transaction accounts to depositors. However, if an IDI does offer noninterest-bearing transaction accounts, that IDI cannot opt out of the Dodd-Frank Deposit Insurance Provision
and its noninterest-bearing transactions accounts shall be fully insured through December 31, 2012.


This can be found in - FAQ#5 of FDIC’s FAQs.  FDIC’s FAQs can be found at: http://www.fdic.gov/deposit/deposits/unlimited/faq.pdf

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