Citi's (C) Unlimited FDIC Insurance

We got the same email from Citi (C), this morning, as Felix Salmon did, and found it similarly unusual:

Unlimited FDIC Insurance Coverage on your Citibank Checking Account


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 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.

Unlimited insurance, eh? Any ideas what this is all about?

Whatever it is, I now feel a lot better about depositing that $250,001 check we’ve been sitting on.

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