Zero-coupon CDs are insured to the extent of the original offering price plus interest at the rate quoted to the depositor on the original offering, accreted to the date of the closing of the Issuer.
Interest is determined for insurance purposes in accordance with federal law and regulations.
You are responsible for monitoring the total amount of deposits that you hold with one Issuer in order for you to determine the extent of deposit insurance coverage available to you on your deposits, including the CDs. SHAY and FFTC are not responsible for any insured or uninsured portion of the CDs or any other deposits. Thereafter, any assumed deposits will be aggregated with your existing deposits with the acquirer held in the same capacity for purposes of federal deposit insurance. Any deposit opened at the Issuer after the acquisition will be aggregated with deposits established with the acquirer for purposes of federal deposit insurance. The uninsured premium being paid for an interest bearing CD can be determined from the price set forth on your trade confirmation.