A program that provides depositors of large sums of money with the security of the Federal Deposit Insurance Corporation (FDIC) insurance on money market deposits over the $250,000 limit. As an example, a $1 million sum will be distributed among four separate banks, each with accounts holding a maximum of $250,000.
Related information about money market account extra (MMAX):
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An account structure that provides depositors with the ability to secure FDIC insurance on large deposits that would otherwise exceed the normal insurance limit ...
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... market · money market instruments · money market deposit account · tight money market · money market account · money market account extra (MMAX) ...
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