Changes in FDIC insurance coverage |
Interest Bearing Deposits
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| Interests earning (bearing) deposits at Shinhan Bank America or at its division are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories of interest bearing deposits except for certain retirement accounts, including IRAs, which will remain at $250,000 per depositor. |
Non-Interest Bearing Deposits
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| Effective October 14, 2008, all non-interest bearing transaction deposit accounts held at Shinhan Bank America or at its division, including personal and business checking accounts, are fully insured for the entire amount in the deposit account. This unlimited insurance coverage is temporary and will remain in effect until December 31, 2009. After December 31, 2009 the FDIC insurance will be back to $100,000 per depositor. |
| For more Information about FDIC coverage, Please visit www.fdic.gov |
