Page:United States Statutes at Large Volume 123.djvu/1670

 123STA T . 1 650PUBLIC LA W 111 – 22 —M A Y 20, 200 9theEm e rg e ncy Ec o nom i c S t ab i l i z ation A cto f20 0 8 to pu r - cha s e or guarantee assets .’ ’. ( 2 )NCU A. — Section 20 3 ( d )( 1 ) of the F ederal Credit Union Act (12 U.S.C. 1 7 83(d)(1)) is amended to read as follo w s

‘(1) I f , in the j udgment of the B oard, a loan to the insurance fund, or to the stabilization fund described in section 217 of this title, is re q uired at any time for purposes of this sub- chapter, the Secretary of the T reasury shall ma k e the loan, but loans under this paragraph shall not e x ceed in the aggre- gate $6 ,000,000,000 outstanding at any one time. Except as otherwise pro v ided in this subsection, section 217, and in sub- section (e) of this section, each loan under this paragraph shall be made on such terms as may be fixed by agreement between the Board and the Secretary of the Treasury.’’. (3) T EMPORA R YINC REA S ESO FB ORRO W IN G A UTH ORITY FOR NCUA.—Section 203(d) of the Federal Credit Union Act (12 U.S.C. 1783(d)) is amended by adding at the end the following: ‘‘( 4 ) TEMPORARY INCREASES AUTHORI Z E D .— ‘‘(A) R ECOMMENDATIONS FOR INCREASE.— D uring the period beginning on the date of enactment of this paragraph and ending on December 31, 2010, if, upon the written recommendation of the Board (upon a vote of not less than two-thirds of the members of the Board) and the Board of G overnors of the Federal Reserve System (upon a vote of not less than two-thirds of the members of such Board), the Secretary of the Treasury (in consultation with the P resident) determines that additional amounts above the $6,000,000,000 amount specified in paragraph (1) are necessary, such amount shall be increased to the amount so determined to be necessary, not to exceed $30,000,000,000. ‘‘(B) REPORT RE Q UIRED.—If the borrowing authority of the Board is increased above $6,000,000,000 pursuant to subparagraph (A), the Board shall promptly submit a report to the Committee on Banking, H ousing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives describing the reasons and need for the additional borrowing authority and its intended uses.’’. (d) E X PANDING SYSTEMIC RIS K SPECIA L ASSESSMENTS.—Section 13(c)(4)(G)(ii) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)(G)(ii)) is amended to read as follows: ‘‘(ii) REPAYMENT OF LOSS.— ‘‘(I) IN GENERAL.—The Corporation shall recover the loss to the Deposit Insurance Fund arising from any action taken or assistance pro- vided with respect to an insured depository institu- tion under clause (i) from 1 or more special assess- ments on insured depository institutions, deposi- tory institution holding companies (with the concurrence of the Secretary of the Treasury with respect to holding companies), or both, as the Cor- poration determines to be appropriate. ‘‘(II) TREATMENT OF DEPOSITORY INSTITUTION HOLDING COMPANIES.—For purposes of this clause, sections 7(c)(2) and 18(h) shall apply to depository Ap p licab ili ty.T i me pe r i od. L oa ns .