If you have $250,000 or less in a savings account or 澳洲幸运5官方开奖结果体彩网:certificate of deposit (CD), chances are your money is protected by the 澳洲幸运5官方开奖结果体彩网:F𓆏ederal Deposit Insurance Corporation (FDIC). But what about accounts that hold more than that limit? Lawmakers are considering proposals to raise the limit in the wake of a 澳洲幸运5官方开奖结果体彩网:string of bank collapses this spring, but have yet to take action. In other words, it’s still up in the air whether the limit will be raised this year.

In May, the FDIC proposed 澳洲幸运5官方开奖结果体彩网:raising the limit for businesses and leaving it as-is for individuals. However, it’s up to Congress to raise the limit, and leaders in Congress have been relatively quiet on the issue lately, despite some support for the 💖idea by lawmakers of both parties.

“There's a discussion on do you raise the $250,” Senator Sherrod Brown, the Ohio Democrat who chairs the powerful committee on banking, told Roll Call May 10. “The small- to medium-sized banks said you should eliminate the cap for two years. Others are saying raise the $250 to $500. Others are saying you sort of bifurcate the business deposits and individual deposits. I don't think there's any consensus.”

Brown’s office did not respond to a request for comment from I🦹nvestopedia.

In March, the sudden collapse of Silicon Valley Bank put the spotlight on the $250,000 insurance limit. When SVB went under, companies that had deposited money there worried they wouldn’t be able to pay their employees, according to press reports—many had well over $250,000 deposited there, meaning their funds could be at risk. In the end, the federal government stepped in and ensured that all depositors at the bank 澳洲幸运5官方开奖结果体彩网:would be made whole, even for amounts over the limit.

If the limit is raised, it wouldn’t be the first time. The FDIC was created in 1933 to reassure the public that their money was safe in banks, insuring deposits with funds collected from the banks themselves rather than the U.S. Treasury. The organization initially insured deposits worth up to $2,500, a limit that was raised multiple times over the years, most recently in 2008. The limit was more than doubled from $100,000 during the great financial crisis.

Regulators have been considering the merits of yet another increase. As outlined in a May FDIC report on proposals to increase the limit, there would be winners and losers if the limit were raised or eliminated entirely. While raising the limit could help prevent bank runs and other panics, it could also encourage riskier behavior by banks and depositors, and potentially expose taxpayers to more losses in the event of future financial disasters.