6.2.1 Identification of FDIC Insurance Eligible Accounts

The first step in determining insurance is to identify the subset of deposit accounts that are eligible for insurance coverage from the FDIC. Only FDIC Insurance-eligible accounts go through FDIC Part 370 classification criteria and insurance calculation.

A Deposit Account is identified as eligible for deposit insurance coverage by FDIC based on the following criteria:

• Account domicile
• Domicile of the covered institution or its branch
• Whether the customer is internal to the organization structure or not

Additionally, identification and inclusion of overseas military banking facilities for the United States are also treated under the eligibility criteria.

Note:

Deposits held by a depositor in the same right and capacity with multiple insured entities or the US branch of foreign entities, are covered separately per entity for all the US branches of each foreign legal entity.

Only deposit accounts that have a balance greater than zero are considered for deposit insurance.

Prepaid Cards and Credit Cards with excess balance are also considered as Eligible accounts for deposit insurance.