FDIC Proposes Changes to Deposit Insurance Policy After Bank Failures.

The FDIC is proposing three options for restructuring its deposit insurance system following recent instability at multiple US banks, including limited coverage, unlimited coverage, and targeted coverage. The FDIC most supports targeted coverage, which would offer different deposit insurance limits across account types. All three options would require congressional action. JPMorgan Chase Bank has been approved to assume all deposits of First Republic Bank, which was widely seen as the bank most likely to collapse next after the failures of Silicon Valley Bank and Signature Bank.