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gency Economic Stabilization Act of 2008 (12 
U.S.C. 5225(a)(3)), the Secretary shall— 
(A) evaluate the impact of existing Federal 
foreclosure prevention activities on housing dis-
aster areas; 
(B) make a determination of whether the 
foreclosure rates and anticipated default rates 
in such areas have been adequately reduced; 
and 
(C) submit a report to the Congress that 
describes the impact of such activities and the 
determination of the Secretary under subpara-
graph (B). 
(3) ALTERNATIVE
PROPOSALS.—If the Sec-
retary determines that the foreclosure rates and an-
ticipated default rates in housing disaster areas have 
not been adequately reduced, the Secretary shall— 
(A) consider carrying out alternative pro-
posals, including a proposal under which the 
Federal Government makes available affordable 
mortgages, including refinancings, through sub-
sidized financing or mortgage purchases; and 
(B) establish and carry out alternative pro-
grams as the Secretary considers necessary to 
ensure that foreclosure prevention efforts are 
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most effective in the areas of greatest need, in-
cluding housing disaster areas. 
(4) HOUSING DISASTER AREAS.—For purposes 
of this section, the term ‘‘housing disaster area’’ 
means a geographic area having both— 
(A) a high foreclosure rate during the 12 
months preceding the date of the enactment of 
this Act, as measured by percentages of homes 
in or having gone through foreclosure during 
such period and compared to other areas; and 
(B) a substantial decline in home prices 
during the 12 months preceding the date of the 
enactment of this Act, as measured by the Of-
fice of Federal Housing Enterprise and Over-
sight and compared to other areas. 
TITLE VII—FDIC PROVISIONS 
SEC. 701. PERMANENT INCREASE IN DEPOSIT INSURANCE. 
(a) AMENDMENTS TO FEDERAL DEPOSIT INSURANCE 
ACT.—Section 11(a)(1) of the Federal Deposit Insurance 
Act (12 U.S.C. 1821(a)) is amended— 
(1) 
in 
paragraph 
(1)(E), 
by 
striking 
‘‘$100,000’’ and inserting ‘‘$250,000’’; 
(2) in paragraph (1)(F)(i), by striking ‘‘2010’’ 
and inserting ‘‘2015’’; 
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(3) in subclause (I) of paragraph (1)(F)(i), by 
striking ‘‘$100,000’’ and inserting ‘‘$250,000’’; 
(4) in subclause (II) of paragraph (1)(F)(i), by 
striking ‘‘the calendar year preceding the date this 
subparagraph takes effect under the Federal Deposit 
Insurance Reform Act of 2005’’ and inserting ‘‘cal-
endar year 2008’’; and 
(5) in paragraph (3)(A)(iii), by striking ‘‘, ex-
cept that $250,000 shall be substituted for $100,000 
wherever such term appears in such paragraph’’. 
(b) REPEAL OF EESA PROVISION.—Section 136 of 
the Emergency Economic Stabilization Act (Public Law 
110–343; 122 Stat. 3765) is hereby repealed. 
(c) AMENDMENT
TO
FEDERAL
CREDIT
UNION 
ACT.—Section 207(k) of the Federal Credit Union Act 
(12 U.S.C. 1787(k) is amended— 
(1) in paragraph (3)— 
(A) by striking the opening quotation mark 
before ‘‘$250,000’’; 
(B) by striking ‘‘, except that $250,000 
shall be substituted for $100,000 wherever such 
term appears in such section’’; and 
(C) by striking the closing quotation mark 
after the closing parenthesis; and 
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(2) in paragraph (5), by striking ‘‘$100,000’’ 
and inserting ‘‘$250,000’’; 
SEC. 702. EXTENSION OF RESTORATION PLAN PERIOD. 
Section 7(b)(3)(E)(ii) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1817(b)(3)(E)(ii)) is amended by 
striking ‘‘5-year period’’ and inserting ‘‘8-year period’’. 
SEC. 703. BORROWING AUTHORITY. 
Section 14(a) of the Federal Deposit Insurance Act 
(12 U.S.C. 1824(a)) is amended— 
(1) by striking ‘‘$30,000,000,000’’ and insert-
ing ‘‘$100,000,000,000’’; and 
(2) by inserting prior to the last sentence, the 
following new sentence: ‘‘The Corporation may re-
quest in writing to borrow, and the Secretary may 
authorize and approve the borrowing of, additional 
amounts above $100,000,000,000 to the extent that 
the Board of Directors and the Secretary determine 
such borrowing to be necessary.’’. 
SEC. 704. SYSTEMIC RISK SPECIAL ASSESSMENTS. 
Section 13(c)(4)(G)(ii) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1823(c)(4)(G)(ii)) is amended to read 
as follows: 
‘‘(ii) REPAYMENT OF LOSS.— 
‘‘(I) IN GENERAL.—The Corpora-
tion shall recover the loss to the De-
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posit Insurance Fund arising from 
any action taken or assistance pro-
vided with respect to an insured de-
pository institution under clause (i) 
from 1 or more special assessments on 
insured depository institutions, deposi-
tory institution holding companies 
(with the concurrence of the Secretary 
of the Treasury with respect to hold-
ing companies), or both, as the Cor-
poration determines to be appropriate. 
‘‘(II) TREATMENT
OF
DEPOSI-
TORY INSTITUTION HOLDING COMPA-
NIES.—For purposes of this clause, 
sections 7(c)(2) and 18(h) shall apply 
to depository institution holding com-
panies as if they were insured deposi-
tory institutions. 
‘‘(III) REGULATIONS.—The Cor-
poration shall prescribe such regula-
tions as it deems necessary to imple-
ment this clause. In prescribing such 
regulations, defining terms, and set-
ting the appropriate assessment rate 
or rates, the Corporation shall con-
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sider: the types of entities that benefit 
from any action taken or assistance 
provided under this subparagraph; 
economic conditions; the effects on the 
industry; and such other factors as 
the Corporation deems appropriate.’’. 
TITLE VIII—REPORTS ON THE 
GUARANTEE 
OF 
CERTAIN 
CITIGROUP ASSETS 
SEC. 801. REPORTS REQUIRED. 
(a) TREASURY REPORTS.—Not later than 30 days 
after the date of the enactment of this Act, the Secretary 
of the Treasury, in coordination with the Chairperson of 
the Board of Directors of the Federal Deposit Insurance 
Corporation, shall issue a report to the Committee on Fi-
nancial Services of the House of Representatives, the 
Committee on Banking of the Senate, and to the Comp-
troller General of the United States containing the fol-
lowing: 
(1) The authority under which the Citigroup 
guarantee and purchases were made. 
(2) A complete accounting of the specific loans, 
securities, and any other financial instruments in the 
asset pool covered by the Citigroup guarantee. 
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(b) GAO REPORT.—Not later than 60 days after the 
date the Secretary of the Treasury issues the report re-
quired by subsection (a), the Comptroller General of the 
United States shall issue a report to the Committee on 
Financial Services of the House of Representatives and 
the Committee on Banking of the Senate examining the 
probable long-term cost to the Federal Government of the 
Citigroup guarantee. 
(c) CITIGROUP GUARANTEE DEFINED.—For the pur-
pose of this section, the term ‘‘Citigroup guarantee’’ 
means the agreement announced November 23, 2008, be-
tween Citigroup and the Treasury and the Federal De-
posit Insurance Corporation to guarantee or purchase, 
partly through the use of funds authorized under the 
Emergency Economic Stabilization Act of 2008 (12 
U.S.C. 5201 et seq.), an asset pool of approximately $306 
billion of loans and securities backed by residential and 
commercial real estate and other such assets on 
Citigroup’s balance sheet. 
TITLE IX—GAO STUDY OF 
FINANCIAL CRISIS 
SEC. 901. STUDY REQUIRED. 
The Comptroller General of the United States shall— 
(1) conduct an in-depth study of the root 
causes of the financial crisis; and 
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(2) submit a report to the Congress and the 
President, and transmit a copy to the Secretary of 
the Treasury, containing the findings and conclu-
sions of the Comptroller General with respect to the 
study under paragraph (1), together with such rec-
ommendations for legislative and administrative ac-
tion as the Comptroller General may determine to be 
appropriate before the end of the 6-month period be-
ginning on the date of the enactment of this Act. 
SEC. 902. TREASURY STRATEGY AND TIMELINE. 
Using the findings and conclusions of the Comptroller 
General in the report under section 901(2), within 30 
days, the Secretary of the Treasury shall issue an overall 
strategy and timeline for implementing the recommenda-
tions contained in the report with the goal of financial sta-
bility and the well-being of taxpayers. 
TITLE 
X—AGENCY 
MBS 
PUR-
CHASE 
PROGRAM 
DISCLO-
SURE 
SEC. 1001. DISCLOSURE REQUIRED. 
Not later than 1 month after the date of the enact-
ment of this Act, the Chairman of the Board of Governors 
of the Federal Reserve System shall issue to the Congress 
a report disclosing— 
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(1) the details of the competitive request for 
proposal process that was used to select the invest-
ment managers of the Federal Reserve System’s 
Agency Mortgage-Backed Security Purchase Pro-
gram announced by the Federal Reserve System on 
November 25, 2008; 
(2) all details of the contracts, including con-
tract price, made between the Federal Reserve Sys-
tem and such investment managers; and 
(3) steps that each such investment manager 
has taken to ensure that the investment manager 
has appropriately segregated the investment man-
agement team that implements the Agency Mort-
gage-Backed Security Purchase Program from other 
advisory and propriety trading activities undertaken 
by the investment manager and the members of the 
investment management team. 
Passed the House of Representatives January 21, 
2009. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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