$250,000 FDIC Insurance Limits Extended

The FDIC just announced that the increase in FDIC insurance to $250,000 will be extended to December 31, 2013 from it's previous December 31, 2009 expiration date. My guess it will then be extended indefinately, assuming there still is an FDIC at that time. So now you can get a CD for up to $250,000 those maturity is longer than six months-Lou

FDIC Insurance Coverage Extension of Temporary Increase in Standard Maximum Deposit Insurance Amount
May 22, 2009

Summary:

On May 20, 2009, President Barack Obama signed the Helping Families Save Their Homes Act, which extends the temporary increase in the standard maximum deposit insurance amount (SMDIA) to $250,000 per depositor through December 31, 2013. This extension of the temporary $250,000 coverage limit became effective immediately upon the President's signature. The legislation provides that the SMDIA will return to $100,000 on January 1, 2014.

FDIC Website:

http://www.fdic.gov/index.html