While the U.S. Senate plans to considers legislation today that would extend unlimited coverage for certain bank accounts for another two years, a survey shows that if that coverage expires, companies plan to shift considerable sums out of bank accounts.

An Association for Financial Professionals survey of more than 1,300 corporate finance professionals shows that 51% say they would shift some balances out of bank accounts if the Transaction Account Guarantee (TAG) program providing unlimited coverage for non-interest-bearing accounts expires as scheduled on Dec. 31. The companies that plan to move money would shift a median of 20% of their deposits.

The most likely new homes for those assets are money market funds and Treasury or agency securities, according to the AFP survey. Forty-two percent of the companies say they would move some of the money into Treasury-based money market funds, 41% into Treasury or agency securities, 36% into prime money market funds and 20% into repos.

See the full AFP survey here. For recent coverage, see TAG Extension Faces Opposition in the House.