Description
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FDIC Insurance suddenly matters again!
The astonishing failures of Silicon Valley Bank (SVB) and Signature Bank have made numerous bank customers worried about their money. Many are asking if their money is safe with your bank, and some are withdrawing it all and stuffing it under the mattress.
Community Banker, you are in the right position to reassure them with facts and figures specific to their situation. You can counter the paranoia they are hearing in the news and help restore confidence and trust. How? By listening to their concerns and providing clear, reliable answers.
To do this, you must have confidence in how FDIC Insurance works and how to find the right amount of coverage for any given customer. There is a fantastic tool out there to help you accomplish this: the FDIC’s Electronic Deposit Insurance Estimator, aka EDIE. Do you know how to use it?
Now is the time to dust off your understanding of all things related to FDIC Insurance. Tune into this quick and useful 1-hour recording to get the timely and relevant facts you need immediately!
WHAT?
FDIC Insurance:
- The big picture, especially in this current bank crunch
- Bank runs: then vs. now
- What FDIC Insurance covers
- What is does NOT apply cover
- Breaking down what these $250,000 coverage criteria fully mean:
- “Per depositor”
- “Per insured bank”
- “Per ownership category”
- Structuring: it’s a good thing! How that $250,000 coverage can be purposefully set up to achieve millions in coverage for consumer depositors
- How to use the EDIE tool, with examples
- Invaluable: Completing this tool with a customer and handing them an FDIC printout with coverage for their unique situation
WHY?
Everything changed in one day, when depositors at SVB withdrew 25% of the bank’s total deposits – $42 Billion. Yes, with a “B”. In one day.
The social-media fueled rhetoric that spawned this run off spread quickly. Suddenly more banks were facing big withdrawals. Those withdrawals caused others to make withdrawals at their own banks, and so forth. Bad news travels fast, and everyone started wondering if they needed to do the same.
Suddenly your customer wants to know if your bank is “strong” and how much they have in FDIC guaranteed funds at your bank.
PROGRAM CONTENT
This one-hour recording will give you the background information and useful knowledge to confidently help your customers regain trust in their deposits at your bank.
WHO?
The recording is designed for compliance officers, front line staff (customer service and tellers), teller department managers, operations officers, lenders, and anyone who faces bank customers.
