PlainBillCongress, translated.Legislation. Context. Public interest.Placed on the Union Calendar, Calendar No. 6.
Congressional Research Service
Version 17 · Reported to House with amendment(s) · Feb 23, 2009
Amends the Federal Deposit Insurance Act (FDIA) and the Federal Credit Union Act (FCUA) to redefine the standard maximum deposit insurance amount and the standard maximum share insurance amount as being $250,000, respectively (thus making such increase permanent).
Amends the FDIA to: (1) extend from five years to eight years the period during which the restoration plan for the Deposit Insurance Fund (DIF) must rebuild its statutory reserve ratio; (2) increase to $100 billion the borrowing authority of the Federal Deposit Insurance Corporation (FDIC); and (3) authorize the FDIC to impose special assessments upon depository institution holding companies to recover losses to the DIF.
Amends the FCUA to: (1) increase to $6 billion the borrowing authority of the National Credit Union Administration (NCUA); and (2) require the NCUA Board to establish a Share Insurance Fund (SIF) restoration plan whenever the Board projects that the SIF equity ratio will fall below, or the SIF equity ratio actually does fall below, the required minimum amount. Sets forth restoration plan requirements.
People & committees
Rep. Frank, Barney [D-MA-4] · D–MA
Legislative record
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Placed on the Union Calendar, Calendar No. 6.
Reported (Amended) by the Committee on Financial Services. H. Rept. 111-18.
Reported (Amended) by the Committee on Financial Services. H. Rept. 111-18.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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