To amend the Federal Credit Union Act to increase the borrowing authority of the National Credit Union Administration, establish a National Credit Union Share Insurance Fund restoration plan period, assess insured credit unions for the costs associated with the corporate credit union stabilization effort on an anti-cyclical basis, and for other purposes.
Credit Union Share Insurance Stabilization Act - Amends the Federal Credit Union Act (FCUA) to grant the National Credit Union Administration (NCUA) increased borrowing authority until December 31, 2010.
Requires the NCUA Board to: (1) establish a National Credit Union Share Insurance Fund (NCUSIF) Restoration Plan whenever it projects that the equity ratio of the NCUSIF will fall below a designated minimum equity ratio; and (2) establish the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) to make payments connected to the actual or threatened conservatorship or liquidation of a corporate credit union. Authorizes the TCCUSF to borrow from the Secretary of the Treasury, subject to specified conditions.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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