SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Credit Union Share 
Insurance Stabilization Act’’. 
SEC. 2. NCUA BORROWING AUTHORITY. 
(a) 
NCUA 
BORROWING
AUTHORITY.—Section 
203(d)(1) of the Federal Credit Union Act (12 U.S.C. 
1783(d)(1)) is amended to read as follows: 
‘‘(1) If, in the judgment of the Board, a loan 
to the insurance fund, or to the stabilization fund 
described in section 217, is required at any time for 
purposes of this title, the Secretary of the Treasury 
shall make the loan, but loans under this paragraph 
shall not exceed in the aggregate $6,000,000,000 
outstanding at any one time. Except as otherwise 
provided in this subsection, section 217, and in sub-
section (e) of this section, each loan under this para-
graph shall be made on such terms as may be fixed 
by agreement between the Board and the Secretary 
of the Treasury.’’. 
(b) TEMPORARY INCREASES
OF BORROWING AU-
THORITY FOR NCUA.—Section 203(d) of the Federal 
Credit Union Act (12 U.S.C. 1783(d)) is amended by add-
ing at the end the following: 
‘‘(4) TEMPORARY INCREASES AUTHORIZED.— 
‘‘(A) 
RECOMMENDATIONS
FOR
IN-
CREASE.—During the period beginning on the 
VerDate Nov 24 2008 
22:37 May 13, 2009
Jkt 059200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H2351.IH
H2351
sroberts on PROD1PC70 with BILLS
date of enactment of this paragraph and ending 
on December 31, 2010, if, upon the written rec-
ommendation of the Board (upon a vote of not 
less than two-thirds of the members of the 
Board) and the Board of Governors of the Fed-
eral 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 President) 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 de-
termined to be necessary, not to exceed 
$30,000,000,000. 
‘‘(B) REPORT
REQUIRED.—If the bor-
rowing authority of the Board is increased 
above $6,000,000,000 pursuant to subpara-
graph (A), the Board shall promptly submit a 
report to the Committee on Banking, Housing, 
and Urban Affairs of the Senate and the Com-
mittee on Financial Services of the House of 
Representatives describing the reasons and need 
for the additional borrowing authority and its 
intended uses.’’. 
VerDate Nov 24 2008 
22:37 May 13, 2009
Jkt 059200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H2351.IH
H2351
sroberts on PROD1PC70 with BILLS
SEC. 3. ESTABLISHMENT OF A NATIONAL CREDIT UNION 
SHARE 
INSURANCE 
FUND 
RESTORATION 
PLAN PERIOD. 
Section 202(c)(2) of the Federal Credit Union Act 
(12 U.S.C. 1782(c)(2)) is amended by adding at the end 
the following new subparagraph: 
‘‘(D) FUND RESTORATION PLANS.— 
‘‘(i) IN GENERAL.—Whenever— 
‘‘(I) the Board projects that the 
equity ratio of the Fund will, within 6 
months of such determination, fall 
below the minimum amount specified 
in subparagraph (C); or 
‘‘(II) the equity ratio of the Fund 
actually falls below the minimum 
amount specified in subparagraph (C) 
without any determination under sub-
clause (I) having been made, 
the Board shall establish and implement a 
restoration plan within 90 days that meets 
the requirements of clause (ii) and such 
other conditions as the Board determines 
to be appropriate. 
‘‘(ii) REQUIREMENTS
OF
RESTORA-
TION PLAN.—A restoration plan meets the 
requirements of this clause if the plan pro-
VerDate Nov 24 2008 
22:37 May 13, 2009
Jkt 059200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H2351.IH
H2351
sroberts on PROD1PC70 with BILLS
vides that the equity ratio of the Fund will 
meet or exceed the minimum amount speci-
fied in subparagraph (C) before the end of 
the 8-year period beginning upon the im-
plementation of the plan (or such longer 
period as the Board may determine to be 
necessary 
due 
to 
extraordinary 
cir-
cumstances). 
‘‘(iii) 
TRANSPARENCY.—Not 
more 
than 30 days after the Board establishes 
and implements a restoration plan under 
clause (i), the Board shall publish in the 
Federal Register a detailed analysis of the 
factors considered and the basis for the ac-
tions taken with regard to the plan.’’. 
SEC. 4. TEMPORARY CORPORATE CREDIT UNION STA-
BILIZATION FUND. 
(a) ESTABLISHMENT
OF TEMPORARY CORPORATE 
CREDIT UNION STABILIZATION FUND.—Title II of the 
Federal Credit Union Act (12 U.S.C. 1781 et seq.) is 
amended by adding at the end the following new section: 
‘‘SEC. 217. TEMPORARY CORPORATE CREDIT UNION STA-
BILIZATION FUND. 
‘‘(a) ESTABLISHMENT OF STABILIZATION FUND.— 
There is hereby created in the Treasury of the United 
VerDate Nov 24 2008 
22:37 May 13, 2009
Jkt 059200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H2351.IH
H2351
sroberts on PROD1PC70 with BILLS
States a fund to be known as the ‘Temporary Corporate 
Credit Union Stabilization Fund’ (and referred to here-
after in this section as the ‘Stabilization Fund’) to be ad-
ministered by the Board as prescribed by section 209. 
‘‘(b) EXPENDITURES FROM STABILIZATION FUND.— 
Money in the Stabilization Fund shall be available upon 
requisition by the Board, without fiscal year limitation, for 
making payments for the purposes described in section 
203(a), subject to the following additional limitations: 
‘‘(1) All payments other than administrative 
payments shall be connected to the conservatorship, 
liquidation, or threatened conservatorship or liquida-
tion of a corporate credit union. 
‘‘(2) Prior to authorizing each payment, the 
Board shall— 
‘‘(A) certify that, absent the existence of 
the Stabilization Fund, the Board would have 
made the identical payment out of the National 
Credit Union Share Insurance Fund; and 
‘‘(B) report each such certification to the 
Committee on Banking, Housing, and Urban 
Affairs of the Senate and the Committee on Fi-
nancial Services of the House of Representa-
tives. 
‘‘(c) AUTHORITY TO BORROW.— 
VerDate Nov 24 2008 
22:37 May 13, 2009
Jkt 059200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H2351.IH
H2351
sroberts on PROD1PC70 with BILLS