I 
111TH CONGRESS 
2D SESSION 
H. R. 5511 
To amend the Federal Deposit Insurance Act to codify the Transaction 
Account Guarantee Program of the Federal Deposit Insurance Corporation. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 10, 2010 
Mr. MARSHALL introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To amend the Federal Deposit Insurance Act to codify the 
Transaction Account Guarantee Program of the Federal 
Deposit Insurance Corporation. 
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 ‘‘Transaction Account 
Guarantee Program Act of 2010’’. 
SEC. 2. TRANSACTION ACCOUNT GUARANTEE PROGRAM. 
The Federal Deposit Insurance Act is amended by 
adding at the end the following new section: 
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‘‘SEC. 51. TRANSACTION ACCOUNT GUARANTEE PROGRAM. 
‘‘(a) ESTABLISHMENT.—There is hereby established 
the Transaction Account Guarantee Program to provide 
a full guarantee for funds held in noninterest-bearing 
transaction accounts of insured depository institutions 
participating in the TAG Program. 
‘‘(b) GUARANTEE IN ADDITION TO DEPOSIT INSUR-
ANCE.—The guarantee provided for under the TAG Pro-
gram is separate, and in addition to, any deposit insurance 
provided with respect to such funds under this Act. 
‘‘(c) OPTING-IN TO THE TAG PROGRAM.— 
‘‘(1) IN GENERAL.—An insured depository in-
stitution that wishes to participate in the TAG Pro-
gram shall submit an application to the Corporation 
in such form and manner and containing such infor-
mation as the Corporation may require. The Cor-
poration shall accept all such applications that do 
not otherwise conflict with the provisions of this sec-
tion. 
‘‘(2) MINIMUM
6-MONTH
PARTICIPATION
PE-
RIOD.—An insured depository institution that opts- 
in to the TAG Program may not opt-out of the pro-
gram during the 6-month period beginning on the 
date on which the such institution opts-in to the 
TAG Program. 
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‘‘(3) WAITING PERIOD AFTER OPTING-OUT.— 
An insured depository institution may not apply to 
participate in the TAG Program if such institution 
has opted-out of the TAG Program during the pre-
vious 6-month period. 
‘‘(d) OPT-OUT REQUIREMENTS.— 
‘‘(1) IN GENERAL.—An insured depository in-
stitution may opt-out of the TAG Program by pro-
viding notice to the Corporation in such form and 
manner and containing such information as the Cor-
poration may require. 
‘‘(2) CUSTOMER
NOTICE
REQUIREMENT.—An 
insured depository institution that chooses to opt-out 
of the TAG Program shall notify each person with 
a noninterest-bearing transaction account with the 
institution that the institution is opting-out of the 
TAG Program. 
‘‘(e) ASSESSMENTS.— 
‘‘(1) IN GENERAL.—The Corporation shall levy 
assessments on those insured depository institutions 
participating in the TAG Program. 
‘‘(2) RISK-BASED
ASSESSMENT
SYSTEM.—In 
levying assessments under paragraph (1), the Cor-
poration shall levy higher assessments on those in-
sured depository institutions that the Corporation 
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determines present a higher risk that the Corpora-
tion will incur a loss under the TAG Program with 
respect to such institutions. 
‘‘(3) AMOUNT OF ASSESSMENT.—The Corpora-
tion shall set the amount of assessments made under 
paragraph (1) at a level such that the aggregate 
amount of all assessments is sufficient to cover the 
estimated amount of payments made by the Cor-
poration by reason of guarantees made under the 
TAG Program. 
‘‘(f) RULEMAKING.—The Corporation shall issue 
such regulations as are necessary to carry out the provi-
sions of this section. 
‘‘(g) DEFINITIONS.—For purposes of this section: 
‘‘(1) NONINTEREST-BEARING TRANSACTION AC-
COUNT.—The term ‘noninterest-bearing transaction 
account’ means— 
‘‘(A) a transaction account with respect to 
which interest is neither accrued nor paid and 
on which the insured depository institution does 
not reserve the right to require advance notice 
of an intended withdrawal; 
‘‘(B) accounts commonly known as Interest 
on Lawyers Trust Accounts, or functionally 
equivalent accounts; and 
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‘‘(C) negotiable order of withdrawal ac-
counts with interest rates no higher than 0.50 
percent, if the insured depository institution at 
which the account is held has committed to 
maintain the interest rate at or below 0.50 per-
cent. 
‘‘(2) TAG PROGRAM.—The term ‘TAG Pro-
gram’ means the Transaction Account Guarantee 
Program established under subsection (a).’’. 
Æ 
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