Are Brokered CDs FDIC Insured?
Summary of User’s Inquiry and Solutions Discussed:
- The main problem reported by the user is whether brokered certificates of deposit (CDs) are FDIC insured.
- Brokered CDs are confirmed to be FDIC insured up to $250,000 per account owner, per issuer.
- This coverage limit was made permanent in 2010.
- Users can expand their FDIC protection by purchasing brokered CDs from multiple issuing banks, thus increasing coverage beyond the standard $250,000 limit.
- A CD 101 guide on Reddit is available for further information on understanding CDs and related terms.
Here’s the full thread