Central Liquidity Facility Enhancement Act

Fact Sheet API

Bill Number

HR 3958

Introduced

Jun 16, 2021

Latest Action

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 22.

Sponsor

Cosponsors

Topics

Bank accounts, deposits, capital Banking and financial institutions regulation Finance and Financial Sector

Full Text

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Votes

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.

Actions

Jun 23, 2021

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 22.
Jun 23, 2021

Committee Consideration and Mark-up Session Held.
Jun 16, 2021

Referred to the House Committee on Financial Services.
Jun 16, 2021

Introduced in House

Amendments

Related Bills