FDIC Clarifies Definition of Depository Institutions Under Federal Deposit Insurance Act

Summary

The FDIC has reaffirmed its interpretation of the Federal Deposit Insurance Act, stating that a depository institution must maintain at least $500,000 in non-trust deposits to qualify for deposit insurance, as confirmed in its General Counsel's Opinion No. 12.

Original source language: Federal Register — Federal Deposit Insurance CorporationOpen original release →

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