12 USC 5241 - Temporary increase in deposit and share insurance coverage

United States Code

USC most recently checked for updates: Jun 09, 2025

§ 5240. Preservation of authority

Subchapter II - BUDGET-RELATED PROVISIONS

U.S. Code
Notes

§ 5241.

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 October 3, 2008, 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 October 3, 2008, 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 October 3, 2008, and ending on December 31, 2013, section 207(k)(5) 1

 See References in Text note below.

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 October 3, 2008, 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 [12 U.S.C. 1811 et seq.] or the Federal Credit Union Act [12 U.S.C. 1751 et seq.].

(Pub. L. 110–343, div. A, title I, § 136, Oct. 3, 2008, 122 Stat. 3799; Pub. L. 111–22, div. A, title II, § 204(a), May 20, 2009, 123 Stat. 1648.)

cite as: 12 USC 5241