Amid bank failure fallout, some are suggesting that the FDIC should increase the $250,000 maximum of deposit insurance at US banks (NPR, Politico, DNYUZ, Investopedia, Cornell, see (a)(1)(E)). Specific actions taken by the Federal Reserve and/or the executive branch that have the effect of covering deposits in excess of $250,000 would not count (e.g., Federal Reserve - Joint Statement by Treasury, Federal Reserve, and FDIC). The date that legislation would take effect is immaterial.

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NOTE 20 March 2023: Legislation that would temporarily raise the standard maximum deposit insurance amount or temporarily abolish/remove the limit would not count.

NOTE 1 May 2023: Increases must be applicable to all FDIC-insured depositors to count, and a greater increase for certain classes of deposits than for others would count so long as all limits are increased.

The question closed "Neither will occur before 28 December 2023" with a closing date of 28 December 2023.

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