HR 522 108th Congress House Finance and Financial Sector Accounting Administrative procedure Administrative remedies Bank accounts Bank capital Bank deposits Bank examination Bank failures Bank records Bank reserves Commerce Congress Congressional investigations Congressional reporting requirements Consumer education Credit unions Deposit insurance Dividends Economics and Public Finance

Federal Deposit Insurance Reform Act of 2003

Introduced: February 4, 2003 See on congress.gov

Everywhere this bill has been 20 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 3, 2003

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Apr 2, 2003

Motion to reconsider laid on the table Agreed to without objection.

Apr 2, 2003

On passage Passed by the Yeas and Nays: 411 - 11 (Roll no. 98).

Apr 2, 2003

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 411 - 11 (Roll no. 98).

Apr 2, 2003

The previous question was ordered pursuant to a previous order of the House.

Apr 2, 2003

The House rose from the Committee of the Whole House on the state of the Union to report H.R. 522.

Apr 2, 2003

DEBATE - Pursuant to a previous order, the Committee of the Whole proceeded with 20 minutes of debate on the Ose amendment.

Apr 2, 2003

GENERAL DEBATE - Pursuant to a previous order of the House, the Committe of the Whole proceeded with one hour of debate on H.R. 522.

Apr 2, 2003

The Speaker designated the Honorable Ray LaHood to act as Chairman of the Committee.

Apr 2, 2003

The House resolved into Committee of the Whole on the state of the Union pursuant to a previous special order.

Apr 2, 2003

Considered by previous order of the House. (consideration: CR H2603-2625)

Apr 2, 2003

Consideration initiated by previous order of the House.

Mar 27, 2003

Placed on the Union Calendar, Calendar No. 31.

Mar 27, 2003

Reported (Amended) by the Committee on Financial Services. H. Rept. 108-50.

Mar 13, 2003

Ordered to be Reported (Amended) by Voice Vote.

Mar 13, 2003

Committee Consideration and Mark-up Session Held.

Mar 4, 2003

Committee Hearings Held.

Feb 27, 2003

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Feb 4, 2003

Referred to the House Committee on Financial Services.

Feb 4, 2003

Introduced in House

Votes taken on this bill 1

Date	Chamber	What was voted on	Result	Yes–No
Apr 2, 2003	House · vote #98	On Passage	Passed	411–11	See who voted →

Plain-English summary Congressional Research Service

Federal Deposit Insurance Reform Act of 2003 - Mandates the merger of the Bank Insurance Fund and the Savings Association Insurance Fund into the Deposit Insurance Fund.

Amends the Federal Deposit Insurance Act (FDIA) and the Federal Credit Union Act to: (1) increase the amount of deposit insurance coverage; (2) couple such increase with an inflation adjustment; and (3) double the amount of deposit insurance for certain retirement accounts.

Amends the FDIA to replace assessment guidelines for achieving and maintaining a designated reserve ratio and for independent treatment of deposit insurance funds with a requirement that the Board of Directors of the FDIC set assessments as it determines appropriate, including a maximum base rate for assessments at one basis point for insured depository institutions in the lowest-risk category.

Reduces from five years to three years the mandatory assessment recordkeeping period.

Replaces the current 1.25 percent statutory reserve ratio used to recapitalize undercapitalized insurance funds with a reserve ratio range of 1.15 to 1.4 percent of estimated insured deposits, subject to specified factors and annual redetermination.

Instructs the FDIC to establish a Deposit Insurance Fund Restoration Plan to ensure adequate reserves whenever the actual ratio in the DIF falls below certain criteria.

What's happening now April 3, 2003

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees of jurisdiction 3