Summary:

The FDIC will conduct four identical live seminars on FDIC deposit insurance coverage for bank employees and bank officers between June 6, 2017, and December 4, 2017. In addition to a comprehensive overview of FDIC deposit insurance rules, the seminars now include deposit insurance coverage information for Prepaid Cards, Health Savings Accounts, 529 plan accounts and 529 Achieving a Better Life Experience (ABLE) plan accounts. The seminar presentation provides an overview of some of the most popular deposit insurance resources such as: (a) the FDIC's Electronic Deposit Insurance Estimator (EDIE), which is an interactive tool used to calculate deposit insurance coverage, (b) the FDIC's BankFind Directory that allows users to confirm if a bank is FDIC-insured, and (c) the FDIC's Financial Institution Employee's Guide to Deposit Insurance, which was developed to assist bankers to provide detailed information about deposit insurance coverage to their depositors.

In addition, the FDIC has developed three separate Deposit Insurance Coverage Seminars for bank officers and employees that are available on the FDIC's YouTube channel. Both the live and the YouTube deposit insurance coverage seminars will provide bank employees with an understanding of how to calculate deposit insurance coverage. The live seminars each provide a comprehensive overview of FDIC deposit insurance. The three YouTube seminars cover: Fundamentals of Deposit Insurance Coverage; Deposit Insurance Coverage for Revocable Trust Accounts; and Advanced Topics in Deposit Insurance Coverage.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised institutions.