As of April 1, 2024, the Federal Deposit Insurance Corporation (FDIC) has implemented significant changes to its insurance coverage limits, particularly affecting trust accounts.

Key increases in Deposit Insurance Coverage: Deposit Money Banks (DMBs) coverage has jumped from N500,000 to N5,000,000, providing full coverage for 98.98 percent of depositors compared to the ...

RBI Deputy Governor M Rajeshwar Rao indicated the need for periodic increases in the deposit insurance coverage limit due to factors such as inflation and income growth. He noted that 97.8% of ...

The SVB decision provides some key lessons for all companies and their insurance brokers. No. 1: Maintain a Robust D&O Insurance Program A robust D&O insurance program includes: Adequate policy ...

In the economy and finance sector, the most notable change is the increased bank deposit insurance limit. This cap, unchanged since 2001, is being raised from 50 million won to 100 million won. In ...

An account-sharing service designed to extend the limits of government deposit insurance has doubled its coverage to $10 million for a single customer by expanding the number of participating banks.

Republic Act 3591, as amended, authorizes the PDIC Board of Directors to review and increase the MDIC every three years, based on inflation or other economic indicators. The P1 million insurance ...

FDIC insurance coverage is limited to the standard maximum deposit insurance amount (“SMDIA”) of $250,000 per depositor, per FDIC-insured bank, per ownership category.

Customers of Microfinance Banks (MfBs) will receive deposit coverage from N200,000 to N2,000,000, offering full protection for 99.27 per cent of depositors.