Title III — Public Deposit Insurance

Public deposit insurance— The Corporation shall establish a separate registration and regulatory scheme for providing deposit insurance (to be known as “public deposit insurance”) to covered banks and make such deposit insurance available to covered banks without regard to the total deposit amount.

Conditional insurance— The Corporation shall establish a separate registration and regulatory scheme for providing deposit insurance (to be known as “conditional public deposit insurance”) for entities that are in the process of applying for, but have not yet received, public deposit insurance, which shall be subject to such conditions and restrictions as the Corporation determines to be necessary and appropriate to promote public welfare.