Small Business Stability Act
Summary
Small Business Stability Act This bill allows the Federal Deposit Insurance Corporation (FDIC) to guarantee an insured depository institution's uninsured deposits in noninterest-bearing transaction accounts for a single period not to exceed 60 days without complying with requirements to minimize cost to the Deposit Insurance Fund. This authority requires (1) written recommendations from the FDIC board and the Board of Governors of the Federal Reserve System, and (2) a determination from the Department of the Treasury that this step would avoid or mitigate adverse effects on the stability of the banking system.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2023
Committee Review
Floor Vote
President
Introduced May 11, 2023
Last action May 11, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
May 11, 2023
Committee
Referred to the House Committee on Financial Services.
lower
May 11, 2023
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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