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Deposit Insurance Regulations; Unlimited Coverage for Noninterest-Bearing Transaction Accounts; Inclusion of Interest on Lawyers Trust Accounts

FDIC · final-rule · Published 2011-01-27 · Effective 2011-01-27 · 76 FR 4813

Document

Document number
2011-1732
Federal Register citation
76 FR 4813
CFR reference
12 CFR 330
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Deposit Insurance Corporation
Publication date
2011-01-27
Effective date
2011-01-27

Abstract

The FDIC is adopting a final rule amending its deposit insurance regulations to implement an amendment to section 11(a)(1)(B)(iii) of the Federal Deposit Insurance Act (FDI Act), as added by section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203), that includes Interest on Lawyers Trust Accounts ("IOLTAs") in the definition of "noninterest-bearing transaction account" for purposes of providing unlimited deposit insurance for such accounts for two years starting December 31, 2010.

Source

Authoritative
Federal Register document
Machine
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