HR 786 · 111th Congress · Finance and Financial Sector
To make permanent the temporary increase in deposit insurance coverage, and for other purposes.
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Placed on the Union Calendar, Calendar No. 6.(2009-02-23)
Plain Language Summary
[AI summary unavailable — showing source text]
Amends the Federal Deposit Insurance Act (FDIA) and the Federal Credit Union Act (FCUA) to redefine the standard maximum deposit insurance amount and the standard maximum share insurance amount as being $250,000, respectively (thus making such increase permanent). Amends the FDIA to: (1) extend from five years to eight years the period during which the restoration plan for the Deposit Insurance Fund (DIF) must rebuild its statutory reserve ratio; (2) increase to $100 billion the borrowing authority of the Federal Deposit Insurance Corporation (FDIC); and (3) authorize the FDIC to impose special assessments upon depository institution holding companies to recover losses to the DIF.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 786, A bill to make permanent the temporary increase in deposit insurance coverage, and for other purposes
Feb 23, 2009<p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on February 4, 2009</p>
Full CBO report ↗H.R. 786, A bill to make permanent the temporary increase in deposit insurance coverage, and for other purposes
Feb 23, 2009Cost estimate for the bill as ordered reported by the House Committee on Financial Services on February 4, 2009
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office