Increased deposit insurance provision included in HR1106

Included in the Helping Families Save Their Homes Act of 2009 (HR 1106), which passed the U.S. House of Representatives yesterday was the provision that makes the increase in deposit share insurance permanent.

Here is the section of the bill:

SEC. 204. ENHANCEMENT OF LIQUIDITY AND STABILITY OF INSURED DEPOSITORY INSTITUTIONS TO ENSURE AVAILABILITY OF CREDIT AND REDUCTION OF FORECLOSURES.
(a) Permanent Increase in Deposit Insurance-
(1) AMENDMENTS TO FEDERAL DEPOSIT INSURANCE ACT- Effective upon the date of the enactment of this Act, section 11(a) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)) is amended--
(A) in paragraph (1)(E), by striking `$100,000' and inserting `$250,000';
(B) in paragraph (1)(F)(i), by striking `2010' and inserting `2015';
(C) in subclause (I) of paragraph (1)(F)(i), by striking `$100,000' and inserting `$250,000';
(D) in subclause (II) of paragraph (1)(F)(i), by striking `the calendar year preceding the date this subparagraph takes effect under the Federal Deposit Insurance Reform Act of 2005' and inserting `calendar year 2008'; and
(E) in paragraph (3)(A), by striking `, except that $250,000 shall be substituted for $100,000 wherever such term appears in such paragraph'.
(2) AMENDMENT TO FEDERAL CREDIT UNION ACT- Section 207(k) of the Federal Credit Union Act (12 U.S.C. 1787(k)) is amended--
(A) in paragraph (3)--
(i) by striking the opening quotation mark before `$250,000';
(ii) by striking `, except that $250,000 shall be substituted for $100,000 wherever such term appears in such section'; and
(iii) by striking the closing quotation mark after the closing parenthesis; and
(B) in paragraph (5), by striking `$100,000' and inserting `$250,000'.