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Email From Citibank - All Your Deposits Are Covered By Fdic


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I received an email this morning from Citibank. I'm saying nothing else, but this speaks volumes...

Dear xxxxxxxxxx,

Good news! Citibank is participating in the FDIC's Temporary Liquidity Guarantee Program. Through December 31, 2009, all of your non-interest and interest bearing checking deposit account balances are fully guaranteed by the FDIC for the entire amount in your account. *

And as a reminder, in October the FDIC increased the amount of insurance on eligible savings accounts -- such as savings, market rate, money market accounts, club and holiday accounts, and certificates of deposits -- from $100,000 to $250,000 through December 31, 2009.**

To learn more about FDIC insurance, visit the agency's web site at www.fdic.gov or call a Citibank representative at 1-800-374-9700. You may also call the FDIC at 877-ASKFDIC (877-275-3342) or TDD 800-925-4618.

* Coverage under the Temporary Liquidity Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.

** The deposit insurance coverage limits refer to the total of all deposits that an account holder (or account holders) has at each FDIC-insured bank.

Edited by drhewitt
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I would be more concerned if it were underwritten by the UK

I have been keeping up to date with news events concerning Citi.

What perfect timing to receive this email on a Monday morning.

People think the FDIC has an unlimited pot of money - they don't have enough to cover everyone's account and after that runs out they have to apply to the Treasury for a line of credit.

Edited by drhewitt
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I received an email this morning from Citibank. I'm saying nothing else, but this speaks volumes...

Would a run on Citi be called City Run?

Sounds like a healthy Sunday morning endeavour, don't you think? :lol:

Edited by VoteWithYourFeet
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