FDIC will apply lower deposit limits to products in circulation
If the US congress votes to lower the deposit insurance limit to $100,000, then that figure will count for products currently in circulation, says the FDIC
The US Federal Deposit Insurance Corporation (FDIC) says it will apply any change in the deposit coverage amounts to investments already in circulation beyond 31 December 2013, which could have a knock-on effect on the deposit-based structured products industry in the US.
An FDIC spokesperson says the agency is awaiting a decision from the US Congress on whether or not the change to a higher limit, of US$250,000, is extended beyond the 31 December 2013 extension and made permanent as part of the
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