I believe I read where we have to use a new FDIC sign beginning in August....can someone provide a link to this announcement so I can see what changed, etc? thanks.

Here's the Federal Register notice:

http://www.fdic.gov/regulations/laws/federal/2008/08finalAD31.pdf

As I recall, you are not *required* to use the form, but if you choose to do so, you have to use the $250,000 sign prescribed by the FDIC.

This is a change from the previous guidance, which said, you could *not* display a sign showing the $250,000 amount. All you could do was post a notice next to the sign to explain the temporary increase in coverage.

How are other bank's handling the new signage requirements? We sent off to the FDIC requests for new signage but it is my understanding that it is a 6-8 week wait for the new signs....

We will be posting the $250,000 signs. Until then, we'll have the notice next to the sign about the temporary increased SMDIA.

We have also ordered new signage from the FDIC (free from them) & they just sent me an email saying they will send them when they are printed (no date specified). We have the $100,000 signs with $250,000 decals until our new signs come in.

I have ordered the new signs, have not heard anything yet and its been about 3 weeks. When the new signs arive, do they replace the old signs or do the new ones need to be placed in close proxmimity to the old ones?

It is my understanding that the new signs will replace the old signs. Just keep in mind that you may need to go through this excercise again when the temporary SMDIA increase expires at the end of 2013 (if it isn't made permanent between now and then).

http://www.fdic.gov/regulations/resources/signage/

"if it isn't made permanent between now and then" and if we're still around to worry about it!