![]() ![]() If you have more than $245,000 in uninvested cash in your account, the Program will maximize your eligibility for FDIC insurance by allocating uninvested cash across multiple program banks. In utilizing the Program, your uninvested cash balance is swept to a program bank where the deposit is eligible for FDIC insurance. Fidelity's FDIC Insured Deposit Sweep Program details Because the deposits are obligations of the issuing bank, and not the brokerage firm, FDIC insurance applies. These CDs are usually issued in large denominations and the brokerage firm divides them into smaller denominations for resale to its customers. ![]()
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