H.R. 3958 · 117th Congress
Central Liquidity Facility Enhancement Act
- Stage
- Reported from committee
- Sponsor
- Maxine Waters
- Introduced
- 2021-06-16
- Latest action
- 2021-06-23 · Committee Consideration and Mark-up Session Held.
Summary
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.