The deadline for compliance with standards for the dissemination of noninterest transaction Friday, June 24, 2011. We have some questions about the language of the actual announcement. It is as follows:
CHANGES IN THE COVERAGE OF THE NCUA INSURANCE FOR TEMPORARY ACCOUNTS OF TRANSACTIONS
All funds in a "noninterest-bearing transaction account" are fully insured by the national administration of credit until 31 December 2012. This temporary unlimited coverage is in addition to and independent coverage of at least $ 250,000 available for members under the General quota of NCUA insurance rules.
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