1. Deposit Insurance Calculations for Liquidity Risk Management User Guide
  2. FDIC Part 370 Calculations
  3. ORC Classification and Insurance Calculation
  4. Government Accounts (GOV)
  5. Insurance Limit

6.3.9.1 Insurance Limit

Depending on the deposit product type and whether the account is held in state or not, the Application tags three ORC codes, GOV1, GOV2 and GOV3.

The following are the criteria:

Table 5-2 List of ORC Criteria

ORC Criteria Standard Product type ORC

Held by official custodian of The United States.

OR

Official custodian of a Native American tribe.

OR

Official custodian in a CI located in the same state as the public unit.

 Certificate of Deposit, Savings Account, Term Deposits, Money Market Deposit Account, Negotiable Order of Withdrawal accounts GOV1
Demand deposit account GOV2
Held by official custodian located outside the state in which the public unit is located GOV3

Insurance calculation and the Standard Maximum Deposit Insurance Amount (SMDIA) are applied at:

Legal Entity/Separately insured branch- Ownership Right and Capacity-Customer- Account Participant level

For GOV this would be:

Legal Entity/Separately insured branch- GOV-Public Unit- Official Custodian- level

Each official custodian receives coverage up to SMDIA for each of the three codes GOV1, GOV2 and GOV3 separately.