STUDY OF CORPORATE CREDIT UNIONS.

SEC. 2606. [12 U.S.C. 1752a nt] STUDY OF CORPORATE CREDIT UNIONS. (a) Definitions.—For purposes of this section, the following definitions shall apply: (1) Administration.—The term “Administration” means the National Credit Union Administration. (2) Board.—The term “Board” means the National Credit Union Administration Board. (3) Corporate credit union.—The term “corporate credit union” has the meaning given such term by rule or regulation of the Board. (4) Fund.—The term “Fund” means the National Credit Union Share Insurance Fund established under section 203 of the Federal Credit Union Act. (5) Secretary.—The term “Secretary” means the Secretary of the Treasury. (b) Study.— (1) In general.—The Secretary, in consultation with the Board, the Corporation, the Comptroller of the Currency, and the Administration, shall conduct a study and evaluation of— (A) the oversight and supervisory practices of the Administration concerning the Fund, including the treatment of amounts deposited in the Fund pursuant to section 202(c) of the Federal Credit Union Act, including analysis of— (i) whether those amounts should be— (I) refundable; or (II) treated as expenses; and (ii) the use of those amounts in determining equity capital ratios; (B) the potential for, and potential effects of, administration of the Fund by an entity other than the Administration; (C) the 10 largest corporate credit unions in the United States, conducted in cooperation with appropriate employees of other Federal agencies with expertise in the examination of federally insured financial institutions, including— (i) the investment practices of those credit unions; and (ii) the financial stability, financial operations, and financial controls of those credit unions; (D) the regulations of the Administration; and (E) the supervision of corporate credit unions by the Administration. (c) Report.—Not later than 12 months after the date of enactment of this Act, the Secretary shall submit to the appropriate committees of the Congress, a report that includes the results of the study and evaluation conducted under subsection (b), together with any recommendations that the Secretary considers to be appropriate.