"Push for Expanded FDIC Coverage Gains Momentum Among US Officials and Banks"
US Treasury officials are exploring ways to temporarily expand FDIC coverage to all deposits, using emergency authority to insure deposits above the current $250,000 cap on accounts without the consent of Congress. The Exchange Stabilization Fund is being considered as a legal framework for expanding FDIC insurance. While authorities do not see such a move as a necessity yet, they are still developing a strategy out of due diligence in case the situation worsens.