WASHINGTON — The NCUSIF could get more help and breathing room under two amendments scheduled to be considered today by the House Financial Services Committee.
Rep. Paul Kanjorski (D-Pa.) is sponsoring an amendment giving the NCUSIF five years to restore itself to the proper equity ratio if it falls below the congressionally-mandated level of between 1.2% and 1.5%. Currently this must be done within a year.
Rep. Luis Gutierrez (D-Illinois) is sponsoring an amendment to increase the NCUSIF's borrowing authority from $500 million to $6 billion. That amount hasn't been raised since the fund came into existence in 1971.
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