Regulatory Programs & Guidance
Transaction Account Guarantee Program
TIB is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.
TIB has served as a true leader in preparing for the recent finalization of this important and far-reaching guidance. This internal ramping up process began more than six months ago. As a result, TIB currently stands alone in having already developed reporting and processes to assist you in your compliance. For more information on the guidance, as well as information on TIB's financial performance, please visit the "Correspondent Concentration Risk Center".
In addition, TIB has prepared a sample Policy Template for use by your bank in complying with this guidance. If you would like a copy, please contact your Correspondent Relations Officer or e-mail us at TIBInfo@mybankersbank.com.
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