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Enhancing FDIC Transparency: Faster Reporting and Documentation for Emergency Bank Actions.

This bill increases Congressional oversight of the Federal Deposit Insurance Corporation (FDIC) when it takes emergency actions regarding failing banks. It mandates that the FDIC must notify Congress before taking certain steps and requires the rapid submission of detailed documentation and analyses justifying any emergency determinations. This ensures greater accountability for decisions that impact financial stability, though it does not change standard deposit insurance coverage for citizens.
Key points
The FDIC must notify key Congressional committees before taking certain resolution actions concerning financial institutions.
Federal agencies (FDIC, Fed, Treasury) must provide Congress with all documentation and quantitative analyses justifying emergency determinations within 3 and 30 days.
The standard for calculating costs during resolutions is technically changed from "a present-value" to "an expected present-value."
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Expired
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Additional Information
Print number: 118_HR_3465
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2023-05-18
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To enhance Federal Deposit Insurance Corporation transparency.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3465.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-05-18.

What are the main provisions?

Key points include:

  • The FDIC must notify key Congressional committees before taking certain resolution actions concerning financial institutions.
  • Federal agencies (FDIC, Fed, Treasury) must provide Congress with all documentation and quantitative analyses justifying emergency determinations within 3 and 30 days.
  • The standard for calculating costs during resolutions is technically changed from "a present-value" to "an expected present-value."
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Barr, Andy [R-KY-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy