Sec. 4008. DEBT GUARANTEE AUTHORITY
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## SEC. 4008 DEBT GUARANTEE AUTHORITY ###
(a)Section 1105 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5612) is amended— ####
(1)in subsection (f)— #####
(A)by inserting “in noninterest-bearing transaction accounts” after “institutions”; and #####
(B)by striking “shall not” and inserting “may”; and ####
(2)by adding at the end the following: > > ### “(h) Approval of Guarantee Program During the COVID-19 Crisis > > > #### “(1) In general > > For purposes of the congressional joint resolution of approval provided for in subsections (c)(1) and
(2)and (d), notwithstanding any other provision of this section, the Federal Deposit Insurance Corporation is approved upon enactment of this Act to establish a program provided for in subsection (a), provided that any such program and any such guarantee shall terminate not later than December 31, 2020. > > > #### “(2) Maximum amount > > Any debt guarantee program authorized by this subsection shall include a maximum amount of outstanding debt that is guaranteed.” > . ###
(b)Federal Credit Union Transaction Account Guarantees **[**[15 U.S.C. 9047](/us/usc/t15/s9047)**]** Notwithstanding any other provision of law and in coordination with the Federal Deposit Insurance Corporation, the National Credit Union Administration Board may by a vote of the Board increase to unlimited, or such lower amount as the Board approves, the share insurance coverage provided by the National Credit Union Share Insurance Fund on any noninterest-bearing transaction account in any federally insured credit union without exception, provided that any such increase shall terminate not later than December 31, 2020.
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