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3.5 Insured Deposit Amount Permanently Increased to $250,000; Extension of Unlimited Insurance of Noninterest Transaction Accounts

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3.5        Insured Deposit Amount Permanently Increased to $250,000; Extension of Unlimited Insurance of Noninterest Transaction Accounts. The Act permanently increases from $100,000 to $250,000, the insured deposit amount per depositor.  This amount also will apply retroactively to depositors in any institution for which the FDIC was appointed as receiver or conservator on or after January 1, 2008 and before October 3, 2008. [§335]

FDIC deposit insurance on the net amount in noninterest-bearing transaction accounts at insured depository institutions is also extended for two additional years until December 31, 2012. [§343]