§ 5241. Temporary increase in deposit and share insurance coverage

Footnotes

1. 1 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 2008

   Emergency Economic Stabilization Act of 2008

   Pub. L. 110–343 div. A title I § 136 · 122 Stat. 3765

   Enacted · 12 U.S.C. § 5241

   Pub. L. 110–343, div. A, title I, § 136, Oct. 3, 2008, 122 Stat. 3799

   Source evidence

   Code source credit
   Pub. L. 110–343, div. A, title I, § 136, Oct. 3, 2008, 122 Stat. 3799

   Enacted provision · exact public law section
   SEC. 136. TEMPORARY INCREASE IN DEPOSIT AND SHARE INSURANCE COVERAGE. (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, 2009, 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) Temporary increase not to be considered for setting assessments.— The temporary increase in the standard maximum deposit insurance amount made under paragraph (1) shall not be taken into account by the Board of Directors of the Corporation for purposes of setting assessments under section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)). (3) Borrowing limits temporarily lifted.— During the period beginning on the date of enactment of this Act and ending on December 31, 2009, 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, 2009, 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) Temporary increase not to be considered for setting insurance premium charges and insurance deposit adjustments.— The temporary increase in the standard maximum share insurance amount made under paragraph (1) shall not be taken into account by the National Credit Union Administration Board for purposes of setting insurance premium charges and share insurance deposit adjustments under section 202(c)(2) of the Federal Credit Union Act (12 U.S.C. 1782(c)(2)). (3) Borrowing limits temporarily lifted.— During the period beginning on the date of enactment of this Act and ending on December 31, 2009, 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.

2. 2009

   Helping Families Save Their Homes Act of 2009

   Pub. L. 111–22 § 204(a)(1)(A) · 123 Stat. 1632

   Substituted · 12 U.S.C. § 5241(a)(1)

   Pub. L. 111–22, § 204(a)(1)(A), substituted “December 31, 2013” for “December 31, 2009”

   Source evidence

   Code amendment note
   Subsec. (a)(1). Pub. L. 111–22, § 204(a)(1)(A), substituted “December 31, 2013” for “December 31, 2009”.

   Enacted provision · exact public law section
   (A) in paragraph (1), by striking “December 31, 2009” and inserting “December 31, 2013”;

3. 2009

   Helping Families Save Their Homes Act of 2009

   Pub. L. 111–22 § 204(a)(1)(B) · 123 Stat. 1632

   1. Redesignated · 12 U.S.C. § 5241(a)(2); 12 U.S.C. § 5241(a)(3)

      Pub. L. 111–22, § 204(a)(1)(B)–(D), redesignated par. (3) as (2)

   2. Substituted · 12 U.S.C. § 5241(a)(2); 12 U.S.C. § 5241(a)(3)

      Pub. L. 111–22, § 204(a)(1)(B)–(D), substituted “December 31, 2013” for “December 31, 2009”

   3. Struck · 12 U.S.C. § 5241(a)(2); 12 U.S.C. § 5241(a)(3)

      Pub. L. 111–22, § 204(a)(1)(B)–(D), struck out former par. (2). Prior to amendment, text read as follows: “The temporary increase in the standard maximum deposit insurance amount made under paragraph (1) shall not be taken into account by the Board of Directors of the Corporation for purposes of setting assessments under section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)).”

   Source evidence

   Code amendment note
   Subsec. (a)(2), (3). Pub. L. 111–22, § 204(a)(1)(B)–(D), redesignated par. (3) as (2), substituted “December 31, 2013” for “December 31, 2009”, and struck out former par. (2). Prior to amendment, text read as follows: “The temporary increase in the standard maximum deposit insurance amount made under paragraph (1) shall not be taken into account by the Board of Directors of the Corporation for purposes of setting assessments under section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)).”

   Enacted provision · exact public law section
   (B) by striking paragraph (2);

4. 2009

   Helping Families Save Their Homes Act of 2009

   Pub. L. 111–22 § 204(a)(2)(A) · 123 Stat. 1632

   Substituted · 12 U.S.C. § 5241(b)(1)

   Pub. L. 111–22, § 204(a)(2)(A), substituted “December 31, 2013” for “December 31, 2009”

   Source evidence

   Code amendment note
   Subsec. (b)(1). Pub. L. 111–22, § 204(a)(2)(A), substituted “December 31, 2013” for “December 31, 2009”.

   Enacted provision · exact public law section
   (A) in paragraph (1), by striking “December 31, 2009” and inserting “December 31, 2013”;

5. 2009

   Helping Families Save Their Homes Act of 2009

   Pub. L. 111–22 § 204(a)(2)(B) · 123 Stat. 1632

   1. Redesignated · 12 U.S.C. § 5241(b)(2); 12 U.S.C. § 5241(b)(3)

      Pub. L. 111–22, § 204(a)(2)(B)–(D), redesignated par. (3) as (2)

   2. Substituted · 12 U.S.C. § 5241(b)(2); 12 U.S.C. § 5241(b)(3)

      Pub. L. 111–22, § 204(a)(2)(B)–(D), substituted “December 31, 2013” for “December 31, 2009”

   3. Struck · 12 U.S.C. § 5241(b)(2); 12 U.S.C. § 5241(b)(3)

      Pub. L. 111–22, § 204(a)(2)(B)–(D), struck out former par. (2). Prior to amendment, text read as follows: “The temporary increase in the standard maximum share insurance amount made under paragraph (1) shall not be taken into account by the National Credit Union Administration Board for purposes of setting insurance premium charges and share insurance deposit adjustments under section 202(c)(2) of the Federal Credit Union Act (12 U.S.C. 1782(c)(2)).”

   Source evidence

   Code amendment note
   Subsec. (b)(2), (3). Pub. L. 111–22, § 204(a)(2)(B)–(D), redesignated par. (3) as (2), substituted “December 31, 2013” for “December 31, 2009”, and struck out former par. (2). Prior to amendment, text read as follows: “The temporary increase in the standard maximum share insurance amount made under paragraph (1) shall not be taken into account by the National Credit Union Administration Board for purposes of setting insurance premium charges and share insurance deposit adjustments under section 202(c)(2) of the Federal Credit Union Act (12 U.S.C. 1782(c)(2)).”

   Enacted provision · exact public law section
   (B) by striking paragraph (2);

9 of 9 references resolved to an enrolled provision