Articles for Deposit Insurance

CNN panel spirals out of control over Trump team threat 'to crash the banking system'
1 week, 2 days ago

CNN panel spirals out of control over Trump team threat 'to crash the banking system'

Raw Story  

A Washington Post columnist and economics commentator jabbed President-elect Donald Trump late Friday on CNN — and did so with a snarky apology. Catherine Rampell — who just a day earlier found herself in a spat with Republican strategist Scott Jennings — joined CNN's "NewsNight" to kick off a discussion about reporting that Trump's allies are mulling plans to weaken …

Trump Bank Journal Donald Trump Cnn Rampell Deposit Insurance
Trump team mulls axing Great Depression-era agency that guards against bank failures: WSJ
1 week, 3 days ago

Trump team mulls axing Great Depression-era agency that guards against bank failures: WSJ

Raw Story  

President-elect Donald Trump's advisers, alongside tech billionaire Elon Musk's Department of Government Efficiency task force, are soliciting opinions from nominees on whether it would be possible for Trump to abolish the Federal Deposit Insurance Corporation, the Wall Street Journal reported Thursday. Trump's advisers "have asked the nominees under consideration for the FDIC, as well as the Office of the Comptroller …

Insurance Trump Banks Deposit Insurance Fdic Smaller Bank Runs Deposit
Why you shouldn’t store your money in payment apps
2 months ago

Why you shouldn’t store your money in payment apps

LA Times  

As use of payment apps like Venmo has grown in recent years, the Consumer Financial Protection Bureau has issued guidance on best practices to avoid pitfalls. It’s not always a fun thing to talk about.” As use of payment apps has grown in recent years, the Consumer Financial Protection Bureau has issued guidance on best practices to avoid pitfalls. “Popular …

Money Apps Payment App Funds Account Store
Insurance Policy Effective From Date Of Issuance, Not From Date Of Proposal Or Date Of Issuance Of Receipt: Supreme Court
11 months, 2 weeks ago

Insurance Policy Effective From Date Of Issuance, Not From Date Of Proposal Or Date Of Issuance Of Receipt: Supreme Court

Live Law  

In the context of insurance protection, the Supreme Court held that the policy issuance date would be the relevant date for all purposes.The issue before the Court was what would be the date from which the policy becomes effective; whether it would be the date on which the policy is issued or the date of the commencement mentioned in the …

Policy Insurance Supreme Court Date Issue Cheque Issuance
Your Questions Answered: Why do fixed deposits with a 3-year tenure offer the highest rate of interest?
1 year, 2 months ago

Your Questions Answered: Why do fixed deposits with a 3-year tenure offer the highest rate of interest?

Live Mint  

Q. I am a 62-year-old retired Colonel of the Indian Army, my wife is a housewife and both of my children are financially independent. In India, fixed deposits with a tenure of around 3 years typically offer the highest interest rates. By offering higher interest rates on fixed deposits with a tenure of around 3 years, banks can attract more …

India Insurance Bank Interest Rates Interest Fixed Deposits Rate
Is my money safe? What you need to know about bank failures
1 year, 7 months ago

Is my money safe? What you need to know about bank failures

Associated Press  

NEW YORK — Recent turmoil in the banking industry may have you worried about your money. If you have over $250,000 in individual accounts at one bank, which most people don’t, the amount over $250,000 is considered uninsured and experts recommend that you move the remainder of your money to a different financial institution, said Caleb Silver, editor in chief …

Financial Credit Money Bank Safe Mcbride Banks
US banking crisis: Is your money safe?
1 year, 7 months ago

US banking crisis: Is your money safe?

Al Jazeera  

As another US bank collapses, here’s what you need to know about how to keep your money safe. If you have multiple individual accounts at the same bank, for example, a savings account and certificate of deposit, those are added together, and the total is insured up to $250,000. The FDIC offers an electronic deposit insurance estimator, a tool to …

Financial Money Bank Mcbride Insured Account Your Bank
FDIC recommends raising insured deposit limit for businesses
1 year, 7 months ago

FDIC recommends raising insured deposit limit for businesses

Associated Press  

NEW YORK — U.S. businesses might be able to secure bank deposit insurance for accounts holding more than $250,000 if Congress agrees with the Federal Deposit Insurance Corp.'s new proposal to ease the industry turmoil that has sparked three bank failures in the past two months. “The recent failures of Silicon Valley Bank and Signature Bank, and the decision to …

Insurance Bank Deposit Deposit Insurance Fdic Gruenberg First Republic
Is my money safe? What you need to know about bank failures
1 year, 7 months ago

Is my money safe? What you need to know about bank failures

Associated Press  

NEW YORK — Recent turmoil in the banking industry may have you worried about your money. If you have over $250,000 in individual accounts at one bank, which most people don’t, the amount over $250,000 is considered uninsured and experts recommend that you move the remainder of your money to a different financial institution, said Caleb Silver, editor in chief …

Financial Credit Money Safe Mcbride Banks Your Bank
US regulators to consider SVB oversight failures in upcoming reports
1 year, 8 months ago

US regulators to consider SVB oversight failures in upcoming reports

Firstpost  

The Federal Deposit Insurance Corporation will launch an examination of the deposit insurance system in light of the decision by regulators to make uninsured depositors whole after SVB’s collapse, FDIC Chair Michael Gruenberg told the Senate Banking Committee Washington: US regulators overseeing Silicon Valley Bank’s rapid collapse earlier this month confirmed Tuesday that they will consider any failings they may …

Deposit Insurance Fdic Gruenberg Svb Uninsured Depositors Uninsured Deposit
Opinion: The Fed just raised interest rates. Does that mean there is no banking crisis?
1 year, 9 months ago

Opinion: The Fed just raised interest rates. Does that mean there is no banking crisis?

LA Times  

Do we have a banking crisis in the United States or don’t we? Also on Wednesday, Treasury Secretary Janet Yellen indicated that expanding deposit insurance is “not something that we’re considering” — and this is not what you would expect the country’s most experienced economic policymaker to say in a crisis. On Monday, Yellen said, “similar actions could be warranted …

Insurance Congress Bank Crisis Fed Banks Act
How safe is my money in a US bank, and what happened with SVB depositors?
1 year, 9 months ago

How safe is my money in a US bank, and what happened with SVB depositors?

Live Mint  

In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system. With the collapse of Silicon Valley Bank and Signature Bank and the U.S. government backstopping all deposits at those firms, here is the state of play …

Insurance Congress Bank Banks Deposit Accounts Deposits
New York Community Bank to buy failed Signature Bank
1 year, 9 months ago

New York Community Bank to buy failed Signature Bank

Associated Press  

NEW YORK — New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday. The deal will include the purchase of $38.4 billion in Signature Bank’s assets, a little more than a third of Signature’s total when the bank failed a week …

Bank New York Signature Deposit Insurance Signature Bank New York Community Bank
Silicon Valley Bank Collapse: How Washington ended up rescuing US banks
1 year, 9 months ago

Silicon Valley Bank Collapse: How Washington ended up rescuing US banks

Firstpost  

Washington: After the sudden collapse of Silicon Valley Bank, California Democratic Representative Maxine Waters started furiously working the phones to find out what was going on with the failed lender — and what would happen to its panicked depositors. Federal Deposit Insurance Corp officials told Republican senators Monday that they received offers for the bank over the weekend but didn’t …

Bank Silicon Valley Biden Officials Federal Banks Valley
How Washington came to rescue US banks
1 year, 9 months ago

How Washington came to rescue US banks

Associated Press  

WASHINGTON — After the sudden collapse of Silicon Valley Bank, California Democratic Rep. Maxine Waters started furiously working the phones to find out what was going on with the failed lender — and what would happen to its panicked depositors. Federal Deposit Insurance Corp. officials told Republican senators Monday that they received offers for the bank over the weekend but …

Financial Bank New York Washington Biden Officials Federal
Credit Availed By Indian Overseas Bank On The Service Tax Paid On Deposit Insurance Service Is Eligible For CENVAT Credit: CESTAT
2 years, 6 months ago

Credit Availed By Indian Overseas Bank On The Service Tax Paid On Deposit Insurance Service Is Eligible For CENVAT Credit: CESTAT

Live Law  

The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal consisting of Sulekha Beevi C.S. and P. Anjani Kumar has held that the credit availed by the Indian Overseas Bank on the Service Tax paid on the basis of the premium paid to the Deposit Insurance and Credit Guarantee Corporation for insuring deposits is eligible for CENVAT Credit. …

Tax Credit Stat Ces Dicgc Service Tax Cenvat Credit
Green fixed deposits offer marginally higher interest rate than offered by regular FDs; Should you look at them?
2 years, 8 months ago

Green fixed deposits offer marginally higher interest rate than offered by regular FDs; Should you look at them?

Live Mint  

Earning a handsome interest on your investment is alluring. HDFC, on its green deposits, offers 6.15 percent for 33 months, which surges to 6.5 percent for 66 months and 6.6 percent for 99 months under the monthly income plan. At the same time, the mortgage lender — on its regular deposits — offers 5.75 percent for 33 months, 6.3 percent …

Fixed Deposits Funds Months Ubi Deposit Insurance Green Deposits Marginally Higher
Do Indians need insurance for bank deposits?
3 years ago

Do Indians need insurance for bank deposits?

The Hindu  

What is the need to raise the value of the deposits that will be insured from ₹1 lakh to ₹5 lakh? We need deposit insurance because we want to give confidence to depositors that if a bank does go down, they don’t need to run to the bank. From a historical perspective, this whole discussion on deposit insurance began in …

Insurance Financial Bank Risk Think Rbi Banks
PM Modi Addresses Bank Deposit Insurance Programme, Says ‘New India Focuses On Resolving Problems’
3 years ago

PM Modi Addresses Bank Deposit Insurance Programme, Says ‘New India Focuses On Resolving Problems’

ABP News  

New Delhi: Prime Minister Narendra Modi on Sunday addressed depositors in a bank deposit insurance event titled “Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs. He further stated that “when I was CM, I repeatedly requested Centre to increase bank deposit insurance cover to Rs 5 lakhs from Rs 1 lakh but to no avail. Addressing the gathering, …

India Insurance Bank Banks Pm Modi Lakh Deposit
Narendra Modi to address bank deposit insurance programme today
3 years ago

Narendra Modi to address bank deposit insurance programme today

Firstpost  

As per an official statement from Prime Minsiter’s Office, Union Finance Minister Nirmala Sitharaman, MoS Finance and RBI Governor will also be present on the occasion New Delhi: Prime Minister Narendra Modi will address the function on ‘Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs 5 Lakh’ on Sunday at noon in Vigyan Bhawan, Delhi. As per an …

Insurance Bank Rbi Deposit Rs 5 Lakh Deposit Insurance Programme Today
What deposit cover overhaul means for you
3 years, 2 months ago

What deposit cover overhaul means for you

The Hindu  

As interest rates have plunged to new lows in the last couple of years, depositors seeking regular income have been caught between a rock and a hard place. Seeking higher rates with new private sector banks, cooperative banks or less-known NBFCs means exposing their principal to risks, with defaults by Dewan Housing Finance and RBI restrictions on depositors of PMC …

Bank Cooperative Rbi Rates Banks Lakh Dicgc