Is the FDIC Insurance now PERMANENTLY set at $250K?

[ayize]

Sometime back the amount covered by FDIC insurance was $100K, but then when the economy got hit, the amount of FDIC insurance was increased to $250K. Then, all of a sudden, I heard that the $250K insurance amount would drop back to $100K at the end of the year 2011. Then I heard that the $250K amount was extended to the end of the year 2013. Now I read at the FDIC website that the $250K amount was made permanent by law. The wording at the website is as follows:

"President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law, which, in part, permanently raises the current standard maximum deposit insurance amount (SMDIA) to $250,000 effective July 22, 2010. Based on this legislation depositors are insured for at least $250,000 per depositor at each FDIC-insured financial institution."

The link to the above text is: https://www2.fdic.gov/starsmail/depconfirmation.asp

Some of my CD accounts in various banks will mature soon, and I would like to move the money to other banks that offer a higher rate of interest, but doing so would increase my current account balance in those banks to above the old $100K FDIC insurance limit but within the newer and supposedly permanent $250K limit. I'm really nervous about doing that because if what I'm reading is not true, I would be placing my life savings (what allows me to survive in retirement) in jeopardy. Do any of you know "for sure" whether the FDIC insurance limit is now permanently set at $250K? With the numbers having bounced around so much (as explained above), I'm really nervous about believing the statement at the FDIC website. Was this information widely published in the news?
.

[nann]

If you do a web search, it is all over the Internet. It is now permanently raised to $250,000

[jolie95]

It's $250,000 -- regardless, you can have multiple accounts up to $250,000 and each will be protected. It's $250,000 per account... not per institution.

[bean]

yes, until the fed decides to change it

[bronsin]

Why are you asking if you already know the answer? It's right on the FDIC's website. Why would they lie?

[bing49]

Why are you asking if you already know the answer? It's right on the FDIC's website. Why would they lie?

Yes it is 250

[tiernan]

Sometime back the amount covered by FDIC insurance was $100K, but then when the economy got hit, the amount of FDIC insurance was increased to $250K. Then, all of a sudden, I heard that the $250K insurance amount would drop back to $100K at the end of the year 2011. Then I heard that the $250K amount was extended to the end of the year 2013. Now I read at the FDIC website that the $250K amount was made permanent by law. The wording at the website is as follows:

"President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law, which, in part, permanently raises the current standard maximum deposit insurance amount (SMDIA) to $250,000 effective July 22, 2010. Based on this legislation depositors are insured for at least $250,000 per depositor at each FDIC-insured financial institution."

The link to the above text is: https://www2.fdic.gov/starsmail/depconfirmation.asp

Some of my CD accounts in various banks will mature soon, and I would like to move the money to other banks that offer a higher rate of interest, but doing so would increase my current account balance in those banks to above the old $100K FDIC insurance limit but within the newer and supposedly permanent $250K limit. I'm really nervous about doing that because if what I'm reading is not true, I would be placing my life savings (what allows me to survive in retirement) in jeopardy. Do any of you know "for sure" whether the FDIC insurance limit is now permanently set at $250K? With the numbers having bounced around so much (as explained above), I'm really nervous about believing the statement at the FDIC website. Was this information widely published in the news?
.