I
106TH CONGRESS
2D SESSION
H. R. 4603
To require studies and reports on the feasibility and potential impact of
increasing the maximum amount of deposit insurance under the Federal
Deposit Insurance Act and the Federal Credit Union Act from $100,000
to $200,000 per depositor or such other amount as may be determined
to be appropriate, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
JUNE 8, 2000
Mr. GONZALEZ introduced the following bill; which was referred to the
Committee on Banking and Financial Services
A BILL
To require studies and reports on the feasibility and potential
impact of increasing the maximum amount of deposit
insurance under the Federal Deposit Insurance Act and
the Federal Credit Union Act from $100,000 to
$200,000 per depositor or such other amount as may
be determined to be appropriate, and for other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Deposit Insurance In-
crease Feasibility Act of 2000’’.
SEC. 2. FEASIBILITY OF INCREASE IN DEPOSIT INSURANCE
CAP UNDER THE FEDERAL DEPOSIT INSUR-
ANCE ACT.
(a) STUDY REQUIRED.—The Federal banking agen-
cies shall jointly conduct a study of—
(1) the feasibility of increasing the maximum
limits on deposit insurance under the Federal De-
posit Insurance Act from $100,000 to $200,000 per
depositor or such other amount as the agencies may
determine to be appropriate;
(2) the potential benefits and risks which could
result from such an increase for consumers, for in-
sured depository institutions, for the Bank Insur-
ance Fund and the Savings Association Insurance
Fund, and for the Treasury of the United States
and taxpayers;
(3) the effect such an increase would have on
the Bank Insurance Fund reserve ratio and the Sav-
ings Association Insurance Fund reserve ratio (as
such terms are defined in section 7(l) of the Federal
Deposit Insurance Act); and
(4) the extent to which any change in the semi-
annual assessment system, or in the rate of assess-
ment, would be necessary or appropriate in connec-
tion with any such increase in deposit insurance cov-
erage.
(b) REPORT REQUIRED.—
(1) IN GENERAL.—Before the end of the 6-
month period beginning on the date of the enact-
ment of this Act, the Federal banking agencies shall
jointly submit a report to the Congress on the study
conducted pursuant to subsection (a).
(2) CONTENTS OF REPORT.—The report shall
contain—
(A) a detailed description of the findings
and conclusions resulting from the study; and
(B) such recommendations for legislative
and administrative actions as the Federal bank-
ing agencies may determine to be appropriate.
(3) SUPPLEMENTAL, CONCURRING
AND
DIS-
SENTING
VIEWS.—If any Federal banking agency
does not fully concur in any finding or conclusion re-
sulting from the study under subsection (a) or any
recommendation contained in the report, the report
submitted under paragraph (1) shall reflect that fact
and the agency shall have the opportunity to include
concurring, supplemental, or dissenting views with
the report at the time of submission.
(c) DEFINITIONS.—For purposes of this section, the
terms ‘‘Federal banking agency’’ and ‘‘insured depository
institution’’ have the same meaning as in section 3 of the
Federal Deposit Insurance Act.
SEC. 3. FEASIBILITY OF INCREASE IN DEPOSIT INSURANCE
CAP UNDER THE FEDERAL CREDIT UNION
ACT.
(a) STUDY REQUIRED.—The National Credit Union
Administration Board shall conduct a study of—
(1) the feasibility of increasing the maximum
limits on deposit insurance under the Federal Credit
Union Act from $100,000 to $200,000 per depositor
or such other amount as the Board may determine
to be appropriate;
(2) the potential benefits and risks which could
result from such an increase for consumers, for in-
sured credit unions, for the National Credit Union
Share Insurance Fund and the Central Liquidity
Facility, and for the Treasury of the United States
and taxpayers;
(3) the effect such an increase would have on
the equity ratio (as defined in section 202(h)(2) of
the Federal Credit Union Act) of the National Cred-
it Union Share Insurance Fund; and
(4) the extent to which any change in the an-
nual assessment system, or in the rate of assess-
ment, would be necessary or appropriate in connec-