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FDIC Limits Extended
– May 21, 2009
Congress recently signed off to extend the FDIC's deposit-insurance limit of $250,000 through the year 2013. The limit was originally raised from $100,000 to $250,000 per depositor through the Emergency Stabilization Act of 2008 signed by President Bush last October. However, this was a temporary measure and set to revert back to the $100,000 limit on January 1, 2010.
Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor.
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