123STA T . 1 649PUBLIC LA W 111 – 22 —M A Y 2 0, 2009 (B)bystrik i ngpa ragrap h ( 2 )
( C )byr ed esignating paragraph ( 3 ) as paragraph (2); and ( D ) in paragraph (2) , ass o redesignated, by striking ‘ ‘De c e m ber 3 1 ,2 0 0 9’ ’ and inserting ‘‘December 31, 2013’’; and (2)ins u bsection (b) — ( A ) in paragraph (1), by striking ‘‘December 31, 2009’’ and inserting ‘‘December 31, 2013’’; (B) by striking paragraph (2); (C) by redesignating paragraph (3) as paragraph (2); and (D) in paragraph (2), as so redesignated, by striking ‘‘December 31, 2009’’ and inserting ‘‘December 31, 2013’’; and (b) EXTENSIO NO FR ESTO RA TION PL AN PERIO D. — S ection 7 (b)(3)(E)(ii) o f the F edera l Deposit I nsurance Act (12 U .S.C. 1 8 17(b)(3)(E)(ii)) is amended by striking ‘‘ 5- year period’’ and inserting ‘‘8-year period’’. (c) FDIC AND N CUA BORRO W IN G A U T H ORIT Y .— (1) FDIC.—Section 1 4 (a) of the Federal Deposit Insurance Act (12 U.S.C. 1824(a)) is amended— (A) by striking ‘‘ $ 30,000,000,000’’ and inserting ‘‘$100,000,000,000’’; (B) by striking ‘‘ T he Corporation is authori z ed’’ and inserting the follo w ing
‘‘(1) IN GENERAL.—The Corporation is authorized’’; (C) by striking ‘‘There are hereby’’ and inserting the following: ‘‘(2) FUNDING.—There are hereby’’; and (D) by adding at the end the following: ‘‘(3) TE MP ORARY IN C REASES AUTHORI Z ED.— ‘‘(A) RECOMMENDATIONS FOR INCREASE.—During the period beginning on the date of enactment of this paragraph and ending on December 31, 2010, if, upon the written recommendation of the Board of Directors (upon a v ote of not less than two-thirds of the members of the Board of Directors) and the Board of G overnors of the Federal Reserve System (upon a vote of not less than two-thirds of the members of such Board), the Secretary of the Treasury (in consultation with the President) determines that additional amounts above the $100,000,000,000 amount specified in paragraph (1) are necessary, such amount shall be increased to the amount so determined to be necessary, not to e x ceed $500,000,000,000. ‘‘(B) REPORT RE Q UIRED.—If the borrowing authority of the Corporation is increased above $100,000,000,000 pursu- ant to subparagraph (A), the Corporation shall promptly submit a report to the Committee on Banking, H ousing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives describing the reasons and need for the additional bor- rowing authority and its intended uses. ‘‘(C) RESTRICTION ON USAGE.—The Corporation may not borrow pursuant to subparagraph (A) to fund obliga- tions of the Corporation incurred as a part of a program established by the Secretary of the Treasury pursuant to Timep e r i od.
