Standard Maximum Deposit Insurance Amount Law and Legal Definition

According to 12 CFR 330.1 [Title 12 -- Banks and Banking; Chapter III -- Federal Deposit Insurance Corporation; Subchapter B -- Regulations and Statements of General Policy; Part 330 -- Deposit Insurance Coverage], standard maximum deposit insurance amount, referred to as the "SMDIA" means “$ 250,000 from October 3, 2008, until December 31, 2013. Effective January 1, 2014, the SMDIA means $ 100,000 adjusted pursuant to subparagraph (F) of section 11(a)(1) of the FDI Act (12 U.S.C. 1821(a)(1)(F)). All examples in this part use $ 250,000 as the SMDIA.”