,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #ajjhb  ,,9 ,,! ,,h\se ,,(         
,,repres5tatives  ,augu/ #ac1 #bjbf,ms4 
,bynum 7= h]self & ,mrs4 ,kim7 introduc$
 ! foll[+ bill2 :i* 0 ref]r$ to !       
,committee on ,f9ancial ,s]vices  ,a    
,,bill  ,to am5d ! ,f$]al ,cr$it ,union 
,act to exp& ! inve/m5t au?ority (      
,f$]al cr$it unions4  #a4 ,%ort title   
,?is ,act may be cit$ z ! ,cr$it ,union 
,inve/m5t ,au?ority ,act4  #b4 ,au?ority
 to inve/ 9 corporate debt ,section     
#ajg7g7 ( ! ,f$]al ,cr$it ,union ,act   
7#ab ,u4,s4,c4 #ageg7 is am5d$ by /rik+ 
g5]al obligations ( ! issu]7 & ins]t+   
g5]al obligations ( ! issu]72 7,l7 9 !  
m>ketable obligations1 bonds1 notes1 or 
o!r in/rum5ts ( indebt$ness ( any ag5cy1
 association1 or company ^: memb]%ip or 
own]%ip is n re/rict$ to ,f$]al cr$it   
unions & ! memb]s ( cr$it unions or     
organizations ( cr$it unions & t is n   
design$ prim>ily to s]ve or o!rwise     
assi/ cr$it union op]ations1 except t no
 cr$it union may inve/ m ?an #aj p]     

c5tum ( its paid-9 unimpair$ capital &  
surplus 9 ! obligations ( any "o issu]4 
#c4 ,au?ority to inve/ 9 asset-back$    
securities  7a7 ,9 g5]al ,section #ajg (
 ! ,f$]al ,cr$it ,union ,act 7#ab       
,u4,s4,c4 #ageg7 is am5d$ 9 p>agraph    
7#ae7-- 7#a7 9 subp>agraph 7,b71 by     
/rik+ or at ! end2  7#b7 by r$esignat+  
subp>agraph 7,c7 z subp>agraph 7,d72 &  
7#c7 by ins]t+ aft] subp>agraph 7,b7 !  
foll[+ subp>agraph3  7,c7 asset-back$   
securities 7z su* t]m is def9$ 9 section
 #c7;a7 ( ! ,securities ,ex*ange ,act ( 
#aicd72 or  4  7b7 ,rulemak+ ,!         
,national ,cr$it ,union ,adm9i/ration   
,bo>d %all1 n lat] ?an #a ye> aft] !    
date ( ! enactm5t ( ?is section issue   
regulations to c>ry out ! am5dm5ts made 
by ?is section & su* regulations %all   
include1 ) respect to ! pur*ase (       
asset-back$ securities by ,f$]al ,cr$it 
,unions1 requirem5ts relat+ to--  7#a7 !
 m9imum size ( ! issue ( ! asset-back$  
securities at ! "t ( initial            
di/ribution2  7#b7 m9imum aggregate sale

 price ( ! asset-back$ securities2 &    
7#c7 ! inve/m5t grade ( ! asset-back$   
securities4