US deposit insurance ceiling permanently raised to $250,000
The Dodd-Frank Act, signed into law by US President Barack Obama on Wednesday, has permanently raised the standard deposit insurance, the Federal Deposit Insurance Corporation (FDIC) said on Thursday.
The standard maximum deposit insurance amount, which was set to revert to $100,000 on 1 January 2014, will be replaced by the new figure of $250,000. On 3 October 2008, the insurance limit on deposits was increased temporarily, from $100,000 to $250,000, until the end of 2010. The time limit was
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