H.R. 6158 would amend the definition of brokered deposits, which banks typically receive from financial brokers or other banks rather than directly from customers. Those deposits are used by the Federal Deposit Insurance Corporation to calculate its assessments of deposit insurance for banks with assets over $10 billion. CBO estimates that enacting the bill would reduce the collection of those assessments, which are classified as offsetting receipts. A reduction in offsetting receipts has the effect of increasing direct spending; CBO estimates those increases in direct spending would total $1.5 billion over the 2019-2028 period.
Because enacting the bill would affect direct spending, pay-as-you-go procedures apply. The bill would not affect revenues.
CBO estimates that enacting H.R. 6158 would not increase net direct spending or on-budget deficits by more than $5 billion in any of the four consecutive 10-year periods beginning in 2029.
H.R. 6158 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.