Summary: H.R.2351 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.2351. Bill summaries are authored by CRS.

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Introduced in House (05/12/2009)

Credit Union Share Insurance Stabilization Act - Amends the Federal Credit Union Act (FCUA) to grant the National Credit Union Administration (NCUA) increased borrowing authority until December 31, 2010.

Requires the NCUA Board to: (1) establish a National Credit Union Share Insurance Fund (NCUSIF) Restoration Plan whenever it projects that the equity ratio of the NCUSIF will fall below a designated minimum equity ratio; and (2) establish the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) to make payments connected to the actual or threatened conservatorship or liquidation of a corporate credit union. Authorizes the TCCUSF to borrow from the Secretary of the Treasury, subject to specified conditions.