Investor Deposit Yardstick Act

Investor Deposit Yardstick Act - Extends retroactively the increase in the standard maximum deposit insurance amount pursuant to the Emergency Economic Stabilization Act of 2008 (EESA) to include depositors in any institution for which the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver or conservator on or after January 1, 2008, and before October 3, 2008.

Directs the FDIC to take necessary actions to carry out deposit insurance requirements under the Federal Deposit Insurance Act (FDIA) with respect to such depositors, without regard to any time limitations under such Act.

Deems any payment on a deposit claim made by FDIC as receiver or conservator to a depositor above the standard maximum deposit insurance amount in effect at the time of the FDIC's appointment as receiver or conservator to be part of the net amount due to the depositor under the FDIA.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5429 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5429

 To provide a retroactive increase in deposit insurance for depositors 
                        in certain institutions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 27, 2010

Ms. Harman (for herself and Mr. Dreier) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To provide a retroactive increase in deposit insurance for depositors 
                        in certain institutions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Investor Deposit Yardstick Act''.

SEC. 2. RETROACTIVE INCREASE IN DEPOSIT INSURANCE.

    Notwithstanding any other provision of law, the increase in the 
standard maximum deposit insurance amount pursuant to section 136(a)(1) 
of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 
5241(a)(1)) shall be extended to include depositors in any institution 
for which the Federal Deposit Insurance Corporation was appointed as 
receiver or conservator on or after January 1, 2008, and before October 
3, 2008. The Federal Deposit Insurance Corporation shall take such 
actions as are necessary to carry out the requirements under section 11 
of the Federal Deposit Insurance Act (12 U.S.C. 1821) with respect to 
such depositors, without regard to any time limitations under such Act. 
In implementing this provision, any payment on a deposit claim made by 
the Corporation as receiver or conservator to a depositor above the 
standard maximum deposit insurance amount in effect at the time of the 
appointment of the Corporation as receiver or conservator shall be 
deemed to be part of the net amount due to the depositor under section 
11(a)(1)(B) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(a)(1)(B)).
                                 <all>