Pipeline · Bill → Law
Step 1
Introduced
May 11, 2023
Step 2
Referred
May 11, 2023
Banking, Housing, and Urban Affairs
Step 3
Committee
Jun 22, 2023
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill expands Federal Deposit Insurance Corporation (FDIC) protections and the actions the FDIC is allowed to take, including in the event of an institutional failure. First, the bill expands for two years FDIC deposit insurance for an amount up to $100,000,000 that a depositor maintains at an insured depository institution in a noninterest-bearing transaction account. (Currently, the FDIC insures deposits up to $250,000.) The bill also increases the reciprocal deposit limit applicable to depository institutions. (Reciprocal deposits are used by institutions to increase the availability of deposit insurance by splitting large deposits using a reciprocal network of institutions.) For 9...
Timeline · 3 actions
Jun 22, 2023
Committee on Banking, Housing, and Urban Affairs. Hearings held.
May 11, 2023
Introduced in Senate
May 11, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.