"FDIC proposes boosting deposit insurance limits for select accounts amid banking system concerns"

The FDIC has released a report on options for deposit insurance reform to address financial stability concerns following recent bank failures. The report outlines three options for reform: limited coverage, unlimited coverage, and targeted coverage. The FDIC believes targeted coverage best meets the objectives of deposit insurance of financial stability and depositor protection relative to its costs. These proposed options would require Congressional action, though some aspects of the report lie within the scope of the FDIC’s rulemaking authority.