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Money Market Included in Insurance for FDIC?

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Question: 
When you are calculating insurance coverage for the FDIC, is Money Market included?
Answer: 

If by "money Market" you are referring to a Money Market Deposit Account, often referred to as an "MMDA," yes. It's a savings account under the definition found in 204.2(d)(2) of Federal Reserve Board Regulation D, and is qualified for FDIC insurance coverage just as any other deposit account qualifies.

First published on BankersOnline.com 1/7/13

First published on 01/07/2013

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