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Code · STATUTE-COMPILATIONS · Emergency Economic Stabilization Act of 2008 · Sec. 136

Sec. 136. TEMPORARY INCREASE IN DEPOSIT AND SHARE INSURANCE COVERAGE

328 words·~1 min read·/statute-compilations/comps-8925/sec-136

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## SEC. 136 TEMPORARY INCREASE IN DEPOSIT AND SHARE INSURANCE COVERAGE **[**[12 U.S.C. 5241](/us/usc/t12/s5241)**]** ###
(a)Federal Deposit Insurance Act; Temporary Increase in Deposit Insurance ####
(1)Increased amount Effective only during the period beginning on the date of enactment of this Act and ending on December 31, 2013, section 11(a)(1)(E) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(E)) shall apply with “$250,000” substituted for “$100,000”. ####
(2)Borrowing limits temporarily lifted During the period beginning on the date of enactment of this Act and ending on December 31, 2013, the Board of Directors of the Corporation may request from the Secretary, and the Secretary shall approve, a loan or loans in an amount or amounts necessary to carry out this subsection, without regard to the limitations on such borrowing under section 14(a) and 15(c) of the Federal Deposit Insurance Act (12 U.S.C. 1824(a), 1825(c)). ###
(b)Federal Credit Union Act; Temporary Increase in Share Insurance ####
(1)Increased amount Effective only during the period beginning on the date of enactment of this Act and ending on December 31, 2013, section 207(k)(5) of the Federal Credit Union Act (12 U.S.C. 1787(k)(5)) shall apply with “$250,000” substituted for “$100,000”. ####
(2)Borrowing limits temporarily lifted During the period beginning on the date of enactment of this Act and ending on December 31, 2013, the National Credit Union Administration Board may request from the Secretary, and the Secretary shall approve, a loan or loans in an amount or amounts necessary to carry out this subsection, without regard to the limitations on such borrowing under section 203(d)(1) of the Federal Credit Union Act (12 U.S.C. 1783(d)(1)). ###
(c)Not for Use in Inflation Adjustments The temporary increase in the standard maximum deposit insurance amount made under this section shall not be used to make any inflation adjustment under section 11(a)(1)(F) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(F)) for purposes of that Act or the Federal Credit Union Act.
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Sec. 136
TEMPORARY INCREASE IN DEPOSIT AND SHARE INSURANCE COVERAGE
U.S.C.§ 5241
U.S.C.§ 1821
U.S.C.§ 1824
U.S.C.§ 1787
U.S.C.§ 1783
Cites 5Cited by 0 across 0 sources
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