hi, we have a cd with a large amount at first republic bank that would mature in about two weeks. but looks like the bank is going under receivership by fdic. the amount is under 250k so we should be fine.. but just wondering if we will get the interest earned until now or not.. which could be close to a thousand dollars or so. any pointers on this would help? thanks in advance
I think itโs insured too. From FDIC: Deposit insurance is calculated dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default. For example, if a customer had a CD account in her name alone with a principal balance of $195,000 and $3,000 in accrued interest, the full $198,000 would be insured. https://www.fdic.gov/resources/deposit-insurance/faq/
great, thank you. i see that on the fdic website now and it makes sense. thank you!