FDIC insurance signage

Any one know when the new stickers and signage is coming?

From the FDIC"

On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009.

In the near future, FDIC will provide insured institutions with information regarding any changes to the official FDIC sign (teller station signs) and instructions for ordering new official FDIC signs (if changes are made). In the meantime, insured institutions may post the above statement, or affix a sticker with the above statement, next to the official FDIC sign.

So, we shouldn't be altering the original sign to say $250,000.00, right?

Probably not a good idea. You might have to replace them all after December 2009.

You shouldn't alter the sign. The wording Marnie posted above came from an FDIC web site. Here's a link to the page. http://www.fdic.gov/regulations/resources/signage/

It was also addressed in a FIL. http://www.fdic.gov/news/news/financial/2008/fil08102.html

The FDIC FIL had a PDF file attachment that was a one page summary of the deposit insurance changes. The FIL had said you could display this in your branches. We printed it out and put it in a plexi-glass sign holder and placed it near the teller line area and on the counter where we make deposit/withdrawal slips available. The FDIC updated the sign to refer to the unlimited insurance on non-interest bearing transaction accounts for those banks that participate in the temporary liquidity guarantee program.

Here's a link to it. http://www.fdic.gov/anniversary/simplification_document.pdf

The FDIC is meeting this Friday, 11/21 to discuss a final rule for the Temporary Liquidity Guarantee program. The interim rule from 10/23 had a requirement to post a notice about whether your bank is or is not participating in the Transaction Account Guarantee Program regarding non-interest bearing accounts. The interim rule did not include model wording for the notice. Many comment letters were written that asked for the FDIC to provide sample wording. We'll have to see what the final rule contains.

Thank you very much!

My bank is not participating in the TLGP and we have posted the model notice to that effect. Are we still required to have a notice that says:

On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009.

YES - the following changes are different areas / effects.
1. Change in insurance from 100 to 250 = [Blurb added to existing signage]
2. "Additional Guaranty" under TLGP for non-int bearing accounts (including IOLTA & NOW < .50%) = [New lobby poster required, with model language]