2016 IADI Asia-Pacific and Regional Committee 14 th Annual Meeting and International Conference Raising Public Awareness on Depositor Protection June 15 th -17 th | lloilo Convention Center (ICC), lloilo City, Philippines
What We Will Cover Today • Deposit insurance coverage fundamentals • Determining deposit insurance coverage • Providing public assistance and outreach information • Additional deposit insurance resources FEDERAL DEPOSIT INSURANCE CORPORATION 2
Brief Summary of Deposit Insurance Date Insurance Coverage Changes January 1, 1934 $ 2,500 July 1, 1934 $ 5,000 1950 $ 10,000 1966 $ 15,000 1969 $ 20,000 1974 $ 40,000 1980 $ 100,000 $100,000 with 2006 Certain Retirement Accounts up to $250,000 Temporary increase of basic deposit insurance coverage amount to $250,000. Full guarantee for 2008 noninterest-bearing transaction accounts through 12/31/2010 for TAGP participating insured banks. Unlimited coverage for noninterest-bearing transaction accounts from 12/31/2010 through 12/31/2012 at all FDIC-insured banks. 2010 Permanent increase of basic deposit insurance coverage amount to $250,000 December 31, 2012 Expiration of unlimited coverage for noninterest-bearing transaction accounts The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each January 1, 2013 account ownership category. FEDERAL DEPOSIT INSURANCE CORPORATION 3
Introduction to Ownership Categories Owner = individual Owner = business/organization Category 2 Category 1 Joint Single Accounts Accounts Owner = government entity Category 3 Category 4 Revocable Irrevocable Trust Trust Accounts Accounts Owner = mortgagee/lender Category 5 Category 6 Certain Employee Retirement Benefit Plan Accounts Accounts FEDERAL DEPOSIT INSURANCE CORPORATION 4
Deposit Insurance Videos on FDIC.gov FEDERAL DEPOSIT INSURANCE CORPORATION 5
Roles & Responsibilities 1. Respond to complex deposit insurance questions received from the public and the banking industry 2. Develop educational tools and resources designed to inform the public and the banking industry about the deposit insurance coverage rules 3. Conduct deposit insurance outreach for financial institution employees to educate bankers about the deposit insurance rules Promote public awareness and understanding of the FDIC’s deposit insurance 4. coverage FEDERAL DEPOSIT INSURANCE CORPORATION 6
Deposit Insurance Inquiry Activity Deposit Insurance related calls to 1-877-ASK FDIC 2008 2009 2010 2011 2012 2013 2014 2015 Deposit Insurance Related Calls to 652,275 246,563 149,032 77,207 50,844 44,540 40,520 38,664 1-877-275-3342 (1-877-ASK FDIC) FEDERAL DEPOSIT INSURANCE CORPORATION 7
Electronic Deposit Insurance Estimator (EDIE) www.fdic.gov/edie/ FEDERAL DEPOSIT INSURANCE CORPORATION 8
Electronic Deposit Insurance Estimator (EDIE) NOT INSURED INSURED www.fdic.gov/edie/ FEDERAL DEPOSIT INSURANCE CORPORATION 9
EDIE Web Traffic Electronic Deposit Insurance Estimator (EDIE) is available in English and Spanish. 2008 2009 2010 2011 2012 2013 2014 2015 Electronic Deposit Insurance 15,356,716 1,990,422 1,944,429 978,186 928,368 892,055 764,730 740,137 Estimator (EDIE) User Views FEDERAL DEPOSIT INSURANCE CORPORATION 10
Banker Telephone Seminars https://www.fdic.gov/deposit/seminars.html FEDERAL DEPOSIT INSURANCE CORPORATION 11
Deposit Insurance Seminars YouTube Videos https://www.youtube.com/user/FDICchannel FEDERAL DEPOSIT INSURANCE CORPORATION 12
Outreach Activities 2015 On-site Banking Industry Conferences Sponsoring Organization(s) Audience # of Attendees American Bankers Association Conference for Community Bankers Bankers 1,600 Independent Community Bankers of America Community Banking LIVE Bankers 1,500 Convention & Expo National Bankers Association Legislative Conference Bankers 50 American Association of Retired Persons Consumers 12,000 Alabama Bankers Association Annual Convention and Trade Show Bankers 490 American Bankers Association National Regulatory & Compliance Conference Bankers 1,600 National Council of La Raza Annual Conference Consumers 3,000 Minority Depository Institutions Conference Bankers 490 Pennsylvania Community Bankers Association Bankers 347 National Bankers Association Annual Convention Bankers 103 BankNext Bankers 75 American Bankers Association National Conference Bankers 1,000 Bank Horizons Bankers 250 TOTAL 22,505 FEDERAL DEPOSIT INSURANCE CORPORATION 13
Public Website: www.FDIC.gov FEDERAL DEPOSIT INSURANCE CORPORATION 14
Deposit Insurance Homepage (Brochures) www.fdic.gov/deposit/ FEDERAL DEPOSIT INSURANCE CORPORATION 15
FDIC Brochures (Tagalog) FEDERAL DEPOSIT INSURANCE CORPORATION 16
FDIC Brochures (Chinese) FEDERAL DEPOSIT INSURANCE CORPORATION 17
FDIC Brochures (Korean) FEDERAL DEPOSIT INSURANCE CORPORATION 18
FDIC Brochures (Vietnamese) FEDERAL DEPOSIT INSURANCE CORPORATION 19
Deposit Insurance Brochures Distributed Deposit Insurance Brochures are also available in Spanish, Tagalog, Chinese (traditional & simplified), Korean, and Vietnamese. 2008 2009 2010 2011 2012 2013 2014 2015 Your Insured Deposits & Deposit 4.5 1.5 3 2.4 1.4 1.43 1.17 1.03 Insurance Summary million million million million million million million million Brochures Distributed (English) FEDERAL DEPOSIT INSURANCE CORPORATION 20
Financial Institution Employee’s Guide https://www.fdic.gov/deposit/DIGuideBankers.html FEDERAL DEPOSIT INSURANCE CORPORATION 21
FDIC’s Online Catalog https://catalog.fdic.gov/ FEDERAL DEPOSIT INSURANCE CORPORATION 22
Contact FDIC For more information on FDIC’s deposit insurance coverage contact: Martin Becker, Chief Deposit Insurance Section at either (202) 898-7207 or by e-mail at mbecker@fdic.gov For more information on FDIC’s Consumer and Community Affairs Programs contact: Elizabeth Ortiz, Deputy Director at either (202) 898-6593 or by e-mail at elortiz@fdic.gov FEDERAL DEPOSIT INSURANCE CORPORATION 23
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