5.3 ORC Classification and Insurance Calculation

A deposit account, if eligible for deposit insurance coverage from FDIC should be classified into one of the 14 ORCs as listed by FDIC. The classification is done by using multiple criteria such as customer type, fiduciary relationship criteria, deposit primary purpose, and so on.

Once the classification is done, the insurance calculation is done at a granularity in accordance to the ORC to which the record is classified. For each ORC, the aggregated amounts are compared to the SMDIA. If the aggregated amount is lesser than the SMDIA, then the entire amount is insured, else, the funds up to SMDIA are insured and the portion exceeding the SMDIA is uninsured.