Deposit Insurance Coverage If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?

If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?

Deposit Insurance Corporation •June 10, 2014,

No. The main office and all branches are considered to be one institution. Therefore, the accounts would be added together and insured up to the $200,000 maximum. However, separately constituted subsidiaries or associated companies are recognised as distinct legal entities for deposit insurance purposes.

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