by E. Manning

Created on: August 07, 2008

There have been a number of bank failures and the recent accumulation of failures is increasing in pace. The FDIC sees many bank failures down the road.

The public word is that regulators are bracing for 100-200 bank failures over the next 12-24 months. If the FDIC is anywhere near right, the United States has what could be considered to be an alarming increase in the number of U.S. commercial bank failures in the near future. This situation, despite props from the Federal Reserve, has been caused by creative banking instruments and outright fraudulent activities in the name of profits for bankers and investors. The resulting contraction of the housing market and credit squeeze on a global basis were created largely by the banking and finance community. A hefty portion of the ensuing bailout of U.S. commercial banks will be at U.S. taxpayer expense.

FDIC insurance is the ultimate standard for protecting the assets of banking depositors in the United States. The FDIC has raised their mandatory banking insurance rates to cover the expected expense of bailout. The government claims that the FDIC has ample resources. While this reality is debatable if several economic shoes drop at once, the U.S. federal government ultimately backs the FDIC. Deposits that meet requirements under the $100,000 account limit are fully protected, as good as the government that backs them.

How do you protect your money and keep that money in a safe bank? To begin, always look for the FDIC logo at your bank branch. If you are using online services with a bank, look for the logo as well. However, don't assume that the FDIC label is accurate in the name of safety and healthy skepticism.

Simply go to www.fdic.gov and locate "bank find". In this way, you can be certain that the bank that you have selected is FDIC insured. The FDIC also has a list of bank rating agencies on its website that can evaluate the financial stability of a bank. To get a free evaluation, check out www.bankrate.com, remembering where your loyalty lies. Banking information is generally set up to secure confidence. The information you are given is designed to that end. However, regardless of your immediate feelings and the view of bank strength, FDIC insurance will secure compliant deposits. That is what you really need to know about.

As an individual, personal deposits are insured up to $100,000 in an FDIC-insured institution, including savings, checking, certificates of deposit and money market accounts. This assumes that

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