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United States · Bill · HR

H.R. 522 (108th)

Federal Deposit Insurance Reform Act of 2003

referredUnited States· United States Congress· EN

Introduced

4 February 2003

Last action

3 April 2003 · Introduced

Status

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

Sponsors

Rep. Bachus, Spencer [R-AL-6], Rep. Oxley, Michael G. [R-OH-4], Rep. Frank, Barney [D-MA-4], Rep. Leach, James A. [R-IA-2], Rep. Kanjorski, Paul E. [D-PA-11], Rep. Bereuter, Doug [R-NE-1], Rep. Waters, Maxine [D-CA-43], Rep. Royce, Edward R. [R-CA-39], Rep. Maloney, Carolyn B. [D-NY-12], Rep. Ney, Robert W. [R-OH-18], Rep. Ford, Harold E., Jr. [D-TN-9], Rep. Gillmor, Paul E. [R-OH-5], Rep. Gonzalez, Charles A. [D-TX-20], Rep. LaTourette, Steven C. [R-OH-14], Rep. Hinojosa, Ruben [D-TX-15], Rep. Jones, Walter B., Jr. [R-NC-3], Rep. McCarthy, Carolyn [D-NY-4], Rep. Biggert, Judy [R-IL-13], Rep. Davis, Artur [D-AL-7], Rep. Green, Mark [R-WI-8], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Miller, Gary G. [R-CA-42], Rep. Hart, Melissa A. [R-PA-4], Rep. Tiberi, Patrick J. [R-OH-12], Rep. Renzi, Rick [R-AZ-1], Rep. Simmons, Rob [R-CT-2], Rep. Upton, Fred [R-MI-6], Rep. Beauprez, Bob [R-CO-7], Sen. Burr, Richard [R-NC], Rep. Souder, Mark E. [R-IN-3], Rep. Cramer, Robert E. (Bud), Jr. [D-AL-5], Rep. Aderholt, Robert B. [R-AL-4], Rep. Rogers, Mike D. [R-AL-3], Rep. Nethercutt, George R., Jr. [R-WA-5], Sen. Udall, Mark [D-CO], Rep. Osborne, Tom [R-NE-3], Rep. Emanuel, Rahm [D-IL-5], Rep. Johnson, Eddie Bernice [D-TX-30], Rep. Baca, Joe [D-CA-43], Rep. Bonner, Jo [R-AL-1], Rep. King, Peter T. [R-NY-2], Sen. Capito, Shelley Moore [R-WV], Rep. Harris, Katherine [R-FL-13], Rep. Bartlett, Roscoe G. [R-MD-6], Rep. Manzullo, Donald A. [R-IL-16], Rep. Tancredo, Thomas G. [R-CO-6], Rep. McInnis, Scott [R-CO-3], Rep. Everett, Terry [R-AL-2]

Subjects

Discovery layer

Source updated

7 April 2025

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Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 4 February 2003

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 4 February 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 4 February 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 27 February 2003

    Referred

    Referred to the Subcommittee on Financial Institutions and Consumer Credit.

    Source: Committee

  5. 4 March 2003

    Committee

    Committee Hearings Held.

    Source: Committee

  6. 13 March 2003

    Reported

    Ordered to be Reported (Amended) by Voice Vote.

    Source: Committee

  7. 13 March 2003

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  8. 27 March 2003

    Calendars

    Placed on the Union Calendar, Calendar No. 31.

    Source: Calendars

  9. 27 March 2003

    Reported

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

    Source: Committee

  10. 27 March 2003

    Reported

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

    Source: Committee

  11. 2 April 2003

    Passed

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

    Source: Floor

  12. 2 April 2003

    Vote

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

    Source: Floor

  13. 2 April 2003

    Vote

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

    Source: Floor

  14. 2 April 2003

    Floor

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

    Source: Floor

  15. 2 April 2003

    Floor

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

    Source: Floor

  16. 2 April 2003

    Floor

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

    Source: Floor

  17. 2 April 2003

    Floor

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

    Source: Floor

  18. 2 April 2003

    Floor

    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.

    Source: Floor

  19. 2 April 2003

    Floor

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

    Source: Floor

  20. 2 April 2003

    Floor

    Consideration initiated by previous order of the House.

    Source: Floor

  21. 3 April 2003

    Introduced

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

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

11 official files

Referred in Senate (text)

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Leesvertaling

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  • Referred in Senate (text)

    Referred in Senate · EN · 3 April 2003

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  • Referred in Senate (PDF)

    Referred in Senate · EN · 3 April 2003

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  • Engrossed in House (text)

    Engrossed in House · EN · 2 April 2003

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 2 April 2003

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  • Passed House without amendment

    summary · EN · 2 April 2003

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  • Reported in House (text)

    Reported in House · EN · 27 March 2003

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  • Reported in House (PDF)

    Reported in House · EN · 27 March 2003

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  • Reported to House with amendment(s)

    summary · EN · 27 March 2003

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  • Introduced in House (text)

    Introduced in House · EN · 4 February 2003

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  • Introduced in House (PDF)

    Introduced in House · EN · 4 February 2003

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  • Introduced in House

    summary · EN · 4 February 2003

    Open at official source

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Sponsors

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