Amends the Federal Deposit Insurance Act (FDIA) to establish the DIF. Requires deposit into the DIF of all assessments made by the Federal Deposit Insurance Corporation (FDIC) against insured depository institutions.
Authorizes the FDIC to borrow from the federal home loan banks the funds necessary for DIF use.
Deposit Insurance Reform Act of 2005 - Amends the FDIA to: (1) prohibit an undercapitalized insured depository institution from accepting employee benefit plan deposits; (2) increase federal insurance coverage (including an inflation adjustment); and (3) include retirement accounts and municipal deposits within such coverage.
Requires the FDIC Board of Directors to designate the reserve ratio applicable to the DIF.
Prohibits the Board from modifying its information collection requirements if such modification is done solely to change assessment risk classifications and results in placing greater regulatory or reporting burdens upon an insured depository institution.
Allows credits based upon past contributions to the DIF.