If they have not yet changed how they do things.... the interest rates will not be changed on the CDs. Last Friday Indymac stopped existing as a S&L. All deposits etc. were transferred to a 'bridge bank' with the same terms. They will try and decide what is the best tactic to minimize their losses, ie. sell as ONE entity or split it up into many smaller banks... they then put these out for bid...
The bidder will say if they want to keep the rates as is or not... if there are not a lot that are out of whack, they might keep them... if there are, then you will get a revised rate when it is sold...
From what I saw on TV last night... there is still a run on the bank and a LOT of people are taking out their money... I was very surprised to see all these 'old folks' who were taking out money.... they had to have been through the S&L crisis etc... maybe that was only a Texas issue, but almost every S&L changed hands a number of times..
Typically, the FDIC has 90 days to repudiate (or affirm) the interest rate on any interest bearing account it has acquired as a result of a receivership. If you read the FDIC press release carefully, you might gain some understanding of the mechanics of the closing and transactions, which are complicated by the formation of a new IndyMac, which acquired some of the assets and liabilities of the old IndyMac (placed in receivership). The new IndyMac has now been placed under a conservatorship by the FDIC. Anyone who has seriously worked in this area would know of this transaction as a "pass-thru receivership into a new FSB bank under conservatorship." (Bridge Banks can only be formed for National Banks in receivership like the mega-bank failures of First Republic Bank, M Corp, Bank of New England in the late 1980's and early 1990's; IndyMac was a thrift so the functional equivalent of the Bridge Bank is being used, i.e. a pass-thru receivership into a new FSB under conservatorship). These arcane machinations are further complicated by the duality of roles undertaken by the FDIC, as insurer of deposit accounts and as receiver of the failed bank's assets and liabilities.
I say all of the above because the CD rate really depends on which entity, old IndyMac under FDIC receivership or new IndyMac under FDIC conservatorship has the CD. If old IndyMac under FDIC receivership has the CD (i.e. not been transferred to new IndyMac) -- which likely occurs when the CD is over the insured amount -- the CD holder will likely receive a pay-out check for the insured amount and a receivership certificate for the uninsured amount (with the payment of a 50 percent "advance dividend" cash payment from the FDIC receivership estate). The receivership certificate is a claim on the assets of the old IndyMac assets in receivership, but depositors holding that certificate get priority ahead of other general creditors. If new IndyMac under FDIC conservatorship has the CD, then it's possible that the old rate could be honored, but why would the FDIC do that if the franchise value of the deposits has already been undermined by what appears to be a lot of negative publicity? Normally rates are honored if a new assuming bank (including the FDIC as conservator) thinks it will lose franchise retail value of the depositors by breaking the rates, but in this case, according to the newspaper reports, a lot of the deposits are "brokered" or "hot money" so these are deposits that have little, if any, retail value, anyway!