PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in House · Feb 4, 2003
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.
People & committees
Rep. Bachus, Spencer [R-AL-6] · R–AL
Legislative record
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by the Yeas and Nays: 411 - 11 (Roll no. 98).
House roll call 98 · Individual votesPassed/agreed to in House: On passage Passed by the Yeas and Nays: 411 - 11 (Roll no. 98).
House roll call 98 · Individual votesThe previous question was ordered pursuant to a previous order of the House.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 522.
DEBATE - Pursuant to a previous order, the Committee of the Whole proceeded with 20 minutes of debate on the Ose amendment.
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.
The Speaker designated the Honorable Ray LaHood to act as Chairman of the Committee.
The House resolved into Committee of the Whole on the state of the Union pursuant to a previous special order.
Considered by previous order of the House. (consideration: CR H2603-2625)
Consideration initiated by previous order of the House.
Placed on the Union Calendar, Calendar No. 31.
Reported (Amended) by the Committee on Financial Services. H. Rept. 108-50.
Reported (Amended) by the Committee on Financial Services. H. Rept. 108-50.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Committee Hearings Held.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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Analyze H.R.522 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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