(a) In General- Section
216(o)(2) of the Federal Credit Union Act (12 U.S.C.
1790d(o)(2)) is amended by striking subparagraph (A) and
inserting the following new subparagraph:
`(A) with respect to any
insured credit union, means--
`(i) the retained
earnings balance of the credit union, as determined
under generally accepted accounting principles,
together with any amounts that were previously the
retained earnings of any other credit union with
which the credit union has combined; and
`(ii) any donated
equity, permanent, and perpetual capital deposits,
or other primary capital made available under Title
I of the Emergency Economic Stabilization Act of
2008, as determined by regulation or order of the
Board with due regard for the accepted capital
standards for United States depository institutions
generally; and'.
(b) Effective Date- The
amendment made by subsection (a) shall take effect at the
end of the 30-day period beginning on the date of the
enactment of this Act.
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