Central Liquidity Facility Enhancement Act This bill permanently extends waivers applicable to the National Credit Union Administration Central Liquidity Facility with respect to membership, credit extension, and borrowing requirements. Currently, these waivers expire on December 31, 2021. The facility extends credit to member credit unions experiencing liquidity shortfalls. Specifically, the bill increases the facility's maximum borrowing authority, allows corporate credit unions to borrow for additional purposes, expands agent memberships, and revises the requirements for loan approval.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 22.
Committee Consideration and Mark-up Session Held.
Introduced in House
Referred to the House Committee on Financial Services.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 22.
Committee Consideration and Mark-up Session Held.
Finance and Financial Sector
Bank accounts, deposits, capitalBanking and financial institutions regulation
Central Liquidity Facility Enhancement Act
USA117th CongressHR-3958| House
| Updated: 6/23/2021
Central Liquidity Facility Enhancement Act This bill permanently extends waivers applicable to the National Credit Union Administration Central Liquidity Facility with respect to membership, credit extension, and borrowing requirements. Currently, these waivers expire on December 31, 2021. The facility extends credit to member credit unions experiencing liquidity shortfalls. Specifically, the bill increases the facility's maximum borrowing authority, allows corporate credit unions to borrow for additional purposes, expands agent memberships, and revises the requirements for loan approval.