[Page S3729]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 688. Mr. CRAPO (for himself, Mr. Corker, Mr. Gregg, and Mr. Bond) 
proposed an amendment to amendment SA 687 proposed by Ms. Mikulski (for 
herself and Mr. Isakson) to the bill H.R. 1388, to reauthorize and 
reform the national service laws; as follows:

       At the appropriate place, add the following:

     SEC. __. INCREASED BORROWING AUTHORITY OF THE FEDERAL DEPOSIT 
                   INSURANCE CORPORATION.

       Section 14(a) of the Federal Deposit Insurance Act (12 
     U.S.C. 1824(a)) is amended--
       (1) by striking ``$30,000,000,000'' and inserting 
     ``$100,000,000,000'';
       (2) by striking ``The Corporation is authorized'' and 
     inserting the following:
       ``(1) In general.--The Corporation is authorized'';
       (3) by striking ``There are hereby'' and inserting the 
     following:
       ``(2) Funding.--There are hereby''; and
       (4) by adding at the end the following:
       ``(3) Temporary increases authorized.--
       ``(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 vote of not 
     less than two-thirds of the members of the Board of 
     Directors) and the Board of Governors 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 exceed 
     $500,000,000,000.
       ``(B) Report required.--If the borrowing authority of the 
     Corporation is increased above $100,000,000,000 pursuant to 
     subparagraph (A), the Corporation shall promptly submit a 
     report to the Committee on Banking, Housing, 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 borrowing authority and its intended 
     uses.''.
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