,i  #aahth ,,congress  #ast ,session    
,h4 ,r4 #cbdc  ,,in ,,the ,,house ,,of  
,,representatives  ,may #aa1 #bjbc ,mr4 
,luetkemeyer introduced the following   
bill2 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 period1 and for other    
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,small ,business    
,stability ,act4  #b4 ,federal ,deposit 
,insurance ,corporation guarantee of    
uninsured deposits for a certain period 
,section #ac7;c77#d7 of the ,federal    
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahbc7;c77#d77 is amended--  7#a7 in    
subparagraph 7,b71 by inserting and     
except as provided in subparagraph 7,h71
 after ,fund12  7#b7 by redesignating   
subparagraph 7,h7 as subparagraph 7,i72 
and  7#c7 by inserting after            

subparagraph 7,g7 the following3  7,h7  
,guarantee of uninsured deposits ,in    
exercising the authority under this     
subsection with respect to any insured  
depository institution1 the ,corporation
 may guarantee deposits in              
noninterest-bearing transaction accounts
 for a single period not to exceed #fj  
days without regard for the requirements
 of subparagraph 7,b7 if1 upon the      
written recommendation of the ,board of 
,directors 7upon a vote of not less than
 two-thirds of the members of the ,board
 of ,directors7 and the ,board of       
,governors of the ,federal ,reserve     
,system 7upon a vote of not less than   
two-thirds of the members of such       
,board71 the ,secretary of the ,treasury
 7in consultation with the ,president7  
determines that--  7i7 the              
,corporation's compliance with          
subparagraphs 7,a7 and 7,e7 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     
system2 and  7ii7 the ,corporation's    
proposed guarantee of deposits in       
noninterest-bearing transaction accounts
 would avoid or mitigate such adverse   
effects4  4