On April 1, the full guarantee on bank deposits will expire, and you owe it to yourself to make sure your savings are not at risk. Here are some frequently asked questions about what happens if a bank fails after March 31:

Which of my bank-held savings deposits are covered?

Current deposits and regular savings accounts -- funds that are always available for withdrawal -- are fully insured through March 31, 2003. The full guarantee on time deposits, however, expires on April 1, and Deposit Insurance Corp. of Japan will insure a maximum 10 million yen of the principal in time deposits plus interest. This holds for each depositor per financial institution.

I have an account at a non-Japanese bank. What happens if it fails?

DIC will only cover banks whose headquarters are in Japan. Money held at the Japanese branches of foreign-based banks, like Citibank NA, are not covered under Japanese law. Neither are accounts at foreign branches of Japanese banks. Deposit insurance covers deposits at registered banks, including long-term credit banks, "shinkin" credit associations, credit unions and labor banks.

Are funds in postal savings accounts safe?

DIC does not cover postal savings accounts. But money at the post office is insured by the government until April 2003, when the Post and Telecommunications Agency will be partially privatized. The government plans to include a clause to continue to insure these deposits. So, unless the government goes belly up and defaults on all its obligations, you won't lose money held in postal savings accounts.

However, there is a 10 million yen cap on the amount you can deposit into postal savings accounts and time deposits.

If my bank goes under, do I automatically lose all the money that isn't insured?

No. How much of the uninsured money is returned to you depends on the state of the failed bank's finances.

For example, if a bank with 900 billion yen in assets failed with 1 trillion yen in liabilities, administrators and bankers would be unable to cover 100 billion yen, or 10 percent, of the bank's obligations. If you had 15 million yen in time deposits at this bank, 5 million yen of this would be uninsured. Of the 5 million yen of uninsured principal, 500,000 yen, or 10 percent, would probably be lost.

How about foreign currency deposits at the bank?

Foreign currency deposits are not insured. Such deposits are considered investments, and carry an exchange-rate risk. However, foreign currency deposits are easier to collect on than other uninsured accounts. They will be treated in the same way as the uninsured principal in time deposits that exceed the 10 million yen maximum guarantee.

The value of foreign currency deposits would be calculated in yen and based on the exchange rate on the day that the bank files for court protection from creditors.

If you have a foreign currency account at a non-Japanese bank, you may be able to receive deposit insurance protection from the bank's home country. If you have a dollar-denominated savings account at Citibank, for example, up to $100,000 of your account is protected under the Federal Deposit Insurance Corp. regardless of citizenship or residence.

Is there any chance I would get all my money back?

If your financial institution does not have liabilities exceeding assets, and fails because of difficulties in raising funds, you may be able to get all your money back.

You could also have 100 percent of your deposit returned if the prime minister declares a state of financial crisis. Under the Deposit Insurance Law, the prime minister can call a meeting with the chief Cabinet secretary, the financial services minister and the Bank of Japan governor to decide whether a failure will trigger the systemic collapse of the financial system. The committee can then order public funds from an account of 15 trillion yen held by DIC to pay out deposits in full.

When do I get my money?

If a financial institution fails, DIC will mail each depositor a notice of the amount owed to them. The depositor must then bring the notice and identification to an appointed financial institution to collect on the deposit. Deposits may also be transferred to an appointed institution.

DIC will notify depositors of the period, place, method and times of payment in daily newspapers, public notices and at bank offices.

If depositors do not collect on their deposits during the specified period without special reason, they will lose the amount. To avoid delays, make sure the bank has your current name and address.

Notices could be mailed as early as four days after the failure, and payment of the insured funds can be made within a few weeks, according to DIC. Payment on uninsured funds can vary -- from a few months to a year or so -- depending on how quickly administrators can assess the bank's assets.

I can't wait. Is there any way I can get my money quicker?

If DIC foresees a delay in insurance payments, it can decide within a week of a bank's collapse to make partial payments of up to 600,000 yen per account against the balance of ordinary deposits to cover the immediate living expenses of depositors.

These payments would be made after the same procedures outlined above have been completed.