[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4603 Introduced in House (IH)]







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 Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Deposit Insurance Increase 
Feasibility Act of 2000''.

SEC. 2. FEASIBILITY OF INCREASE IN DEPOSIT INSURANCE CAP UNDER THE 
              FEDERAL DEPOSIT INSURANCE ACT.

    (a) Study Required.--The Federal banking agencies shall jointly 
conduct a study of--
            (1) the feasibility of increasing the maximum limits on 
        deposit insurance under the Federal Deposit 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 insured depository 
        institutions, for the Bank Insurance 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 Savings 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 semiannual 
        assessment system, or in the rate of assessment, would be 
        necessary or appropriate in connection with any such increase 
        in deposit insurance coverage.
    (b) Report Required.--
            (1) In general.--Before the end of the 6-month period 
        beginning on the date of the enactment 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 banking agencies 
                may determine to be appropriate.
            (3) Supplemental, concurring and dissenting views.--If any 
        Federal banking agency does not fully concur in any finding or 
        conclusion resulting 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 insured 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 Credit Union Share Insurance Fund; 
        and
            (4) the extent to which any change in the annual assessment 
        system, or in the rate of assessment, would be necessary or 
        appropriate in connection with any such increase in deposit 
        insurance coverage.
    (b) Report Required.--
            (1) In general.--Before the end of the 6-month period 
        beginning on the date of the enactment of this Act, the 
        National Credit Union Administration Board shall 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 National Credit Union 
                Administration Board may determine to be appropriate.
    (c) Insured Credit Union.--For purposes of this section, the term 
``insured credit union'' has the same meaning as in section 101(7) of 
the Federal Credit Union Act.
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