As part of the Emergency Economic Stabilization Act of 2008, the level of FDIC insurance coverage has increased as of October 3rd to $250,000. As I noted in an earlier post, it’s possible to have much more than $250,000 of coverage at the same bank, because the coverage depends on the titling of the account.
For example, if a husband and wife each have an IRA and an individual account, and the two also a joint account at the same FDIC-insured bank, their deposits are insured to the follow limits:
Single-owner account – $250,000
Joint-owner account -$250,000