All deposits placed at East West Bank are covered by the standard FDIC insurance amount of $250,000 per customer. If your deposits exceed this amount, we can help you unlock more insurance protection for greater peace of mind.
To be fully insured, you must make sure that your deposits follow the FDIC guidelines and limits. These guidelines are based on different account ownership categories, with up to $250,000 of coverage allowed for each category of account ownership you have in one bank, not by how many ...
Frequently asked questions about the Federal Deposit Insurance Corporation (FDIC) including topics such as what types of accounts are covered and not covered, as well as coverage limits by account ownership category.
which is funded by payments from covered banks. In the rare event of a bank failure, those funds are used to reimburse the insured accounts of customers at that bank, with certain limits and restrictions.
DateFebruary 24, 2023 Your bank’s “member FDIC” logo isn’t just there for decoration. It’s meant to reassure you and your fellow customers that the bank carriesFDIC deposit insurance, which protects your deposits up to applicable legal limits should the bank go out of business. ...
When Silicon Valley Bank failed earlier in 2023, the Fed and FDIC did something unusual. They announced they would back ALL of the deposits, not just the amounts covered by the FDIC limits. They weren't going to bail out the bank's shareholders, but they also weren't going to make the...
Bank collapses can have devastating effects on economies, causing a ripple effect of financial and social consequences. Recent examples of the FDIC in the real world In the spring of 2023, the U.S. faced its first banking crisis in more than a decade when the FDIC took control of Signature...
You may have heard or be concerned that you are only insured up to $250,000, and while that is technically true, there are many ways to increase FDIC coverage without the hassle of moving from bank to bank. Here’s what you need to know about FDIC insurance and how you can maximize ...
The Proposal is likely to generate significant controversy given that it would reverse many of the provisions adopted in 2020 and require changes to many of the relationships established during the past four years. While the FDIC cites the 2023 regional bank failur...
Any money you deposit in an FDIC-insured bank is protected up to the insurance limits, even if the bank closes. This protection has proven invaluable, such as during the 2023 collapses of Silicon Valley Bank and Signature Bank. These banks held many business accounts, which were always guarant...