To authorize the Secretary of the Treasury to direct the Federal Deposit Insurance Corporation and the National Credit Union Administration to establish emergency transaction account guarantee programs, and for other purposes.

Q: What does Preamble of To authorize the Secretary of the Treasury to direct the Federal Deposit Insurance Corporation and the National Credit Union Administration to establish emergency transaction account guarantee programs, and for other purposes. do?

This bill, formally titled 'To authorize the Secretary of the Treasury to direct the Federal Deposit Insurance Corporation and the National Credit Union Administration to establish emergency transaction account guarantee programs, and for other purposes,' aims to authorize the Secretary of the Treasury to direct the FDIC and NCUA to establish emergency transaction account guarantee programs.

Q: What does EMERGENCY TAG PROGRAM AUTHORITY. of To authorize the Secretary of the Treasury to direct the Federal Deposit Insurance Corporation and the National Credit Union Administration to establish emergency transaction account guarantee programs, and for other purposes. do?

This section amends the Federal Deposit Insurance Act and the Federal Credit Union Act to establish Emergency Transaction Account Guarantee (TAG) Program Authorities. These authorities allow the FDIC and the NCUA to establish programs to fully insure deposits and shares in non-interest-bearing transaction accounts. The Secretary of the Treasury, in consultation with the President, must determine the existence of a banking or credit union stress event and that the program would avoid or mitigate adverse effects. The programs are limited in size and duration, with a maximum duration of 6 months and potential for a 3-month extension. The Secretary of the Treasury must testify before Congress within 30 days of program establishment, and the Comptroller General of the United States must review the program within 90 days of termination. Any losses to the Deposit Insurance Fund or the National Credit Union Share Insurance Fund arising from these programs must be recovered through special assessments.

Last updated: 3/25/2026 · Introduced: 3/25/2026

Author: Andy Barr (R-KY)

TL;DR (AI)

This bill authorizes the FDIC and NCUA to establish Emergency Transaction Account Guarantee (TAG) programs to fully insure non-interest-bearing transaction accounts during banking or credit union stress events.
The Secretary of the Treasury, in consultation with the President, determines when a TAG program is necessary and oversees its implementation, which is limited to a maximum of nine months.
Any financial losses resulting from TAG programs will be recovered through special assessments on financial institutions.

119th Congressin committeeOfficial page

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Includes provisions on preamble, emergency tag program authority..

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