I 111th CONGRESS 2d Session H. R. 5429 IN THE HOUSE OF REPRESENTATIVES May 27, 2010 Ms. Harman (for herself and Mr. Dreier) introduced the following bill; which was referred to the Committee on Financial Services A BILL To provide a retroactive increase in deposit insurance for depositors in certain institutions.

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Short title

This Act may be cited as the Investor Deposit Yardstick Act.

2.

Retroactive increase in deposit insurance

Notwithstanding any other provision of law, the increase in the standard maximum deposit insurance amount pursuant to section 136(a)(1) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5241(a)(1)) shall be extended to include depositors in any institution for which the Federal Deposit Insurance Corporation was appointed as receiver or conservator on or after January 1, 2008, and before October 3, 2008. The Federal Deposit Insurance Corporation shall take such actions as are necessary to carry out the requirements under section 11 of the Federal Deposit Insurance Act (12 U.S.C. 1821) with respect to such depositors, without regard to any time limitations under such Act. In implementing this provision, any payment on a deposit claim made by the Corporation as receiver or conservator to a depositor above the standard maximum deposit insurance amount in effect at the time of the appointment of the Corporation as receiver or conservator shall be deemed to be part of the net amount due to the depositor under section 11(a)(1)(B) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(B)).