I 118th CONGRESS 1st Session H. R. 3243 IN THE HOUSE OF REPRESENTATIVES May 11, 2023 Mr. Luetkemeyer introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Deposit Insurance Act to allow the Board of Directors of the Federal Deposit Insurance Corporation to guarantee noninterest-bearing transaction accounts for a certain period, and for other purposes.

1. Short title This Act may be cited as the Small Business Stability Act . 2. Federal Deposit Insurance Corporation guarantee of uninsured deposits for a certain period Section 13(c)(4) of the Federal Deposit Insurance Act ( 12 U.S.C. 1823(c)(4) ) is amended— (1) in subparagraph (B), by inserting and except as provided in subparagraph (H), after Fund, ; (2) by redesignating subparagraph (H) as subparagraph (I); and (3) by inserting after subparagraph (G) the following: (H) Guarantee of uninsured deposits In exercising the authority under this subsection with respect to any insured depository institution, the Corporation may guarantee deposits in noninterest-bearing transaction accounts for a single period not to exceed 60 days without regard for the requirements of subparagraph (B) if, upon the written recommendation of the Board of Directors (upon a vote of not less than two-thirds of the members of the Board of Directors) and the Board of Governors of the Federal Reserve System (upon a vote of not less than two-thirds of the members of such Board), the Secretary of the Treasury (in consultation with the President) determines that— (i) the Corporation’s compliance with subparagraphs (A) and (E) with respect to any insured depository institution for which the Corporation proposes to guarantee deposits in noninterest-bearing transaction accounts would have serious adverse effects on the stability of the entire banking system; and (ii) the Corporation’s proposed guarantee of deposits in noninterest-bearing transaction accounts would avoid or mitigate such adverse effects. .