Deposit Insurance Coverage Seminars: Free Nationwide Series for Bank Officers and Employees
August 12, 2020 / Source: FDIC
Financial Institution Letter
August 12, 2020 | FIL-75-2020
Summary:
The FDIC will conduct four identical live seminars on FDIC deposit insurance coverage for bank employees and bank officers between September 15, 2020, and December 10, 2020. In addition to a comprehensive overview of FDIC deposit insurance rules, the seminars include deposit insurance coverage information on signature card requirements for joint accounts, prepaid cards, bank trade names, Health Savings Accounts, 529 plan accounts, and 529 Achieving a Better Life Experience (ABLE) plan accounts.
Details about the deposit insurance seminars can be found on the FDIC's website.
Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.
Highlights:
- The presentation provides an overview of some of the most popular deposit insurance resources such as the FDIC's Electronic Deposit Insurance Estimator (EDIE), which is an interactive tool used to calculate deposit insurance coverage; the FDIC's BankFind Directory, which allows users to confirm if a bank is FDIC-insured; and the FDIC's Financial Institution Employee's Guide to Deposit Insurance, which was developed to assist bankers in providing detailed information about deposit insurance coverage to their customers.
- The FDIC also has developed three separate seminars for bank officers and employees that are available on the FDIC's YouTube channel. Both the live and YouTube seminars will provide bank employees with an understanding of how to calculate deposit insurance coverage. Each live seminar will provide a comprehensive overview of FDIC deposit insurance.
- Questions about the live seminars or the YouTube videos may be sent to [email protected] or you may call 1-877-275-3342 and ask to speak to a subject matter expert in the Deposit Insurance Section.
Deposit Insurance Coverage: Free Nationwide Seminars for Bank Officers and Employees
Distribution:
FDIC-Insured Institutions
Suggested Routing:
Chief Executive Officer
Head of Deposit Insurance and Branch Operations
Chief Compliance Officer
Training Officer
Branch Managers