NCUA Central Liquidity Facility Enhancements Act | ChamberLight
Bills · S 2545
IN COMMITTEE· 119TH CONGRESS
Senate BillS 2545Finance and Financial Sector
NCUA Central Liquidity Facility Enhancements Act
INTRO JUL 30· LAST ACTION JUL 30
READING
1MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8
Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
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Credit unions would be directly affected, particularly those that currently are, or wish to become, Agent members of the NCUA Central Liquidity Facility. Smaller credit unions that rely on larger Agent members to access liquidity could also be indirectly affected if the pool of Agent members changes. The NCUA Board itself would gain increased authority and discretion over who can serve in this critical role.
KEY PROVISIONS
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PROVISION 01
Amends Section 304(b)(2) of the Federal Credit Union Act to change the language regarding Agent membership in the NCUA Central Liquidity Facility (CLF).
This change gives the NCUA Board discretion to determine which credit unions can be Agent members of the CLF, rather than eligibility being automatically implied for all qualifying credit unions.
Credit unions would be directly affected, particularly those that currently are, or wish to become, Agent members of the NCUA Central Liquidity Facility. Smaller credit unions that rely on larger Agent members to access liquidity could also be indirectly affected if the pool of Agent members changes. The NCUA Board itself would gain increased authority and discretion over who can serve in this critical role.
KEY PROVISIONS
AI-extracted
high
Amends Section 304(b)(2) of the Federal Credit Union Act to change the language regarding Agent membership in the NCUA Central Liquidity Facility (CLF).
This change gives the NCUA Board discretion to determine which credit unions can be Agent members of the CLF, rather than eligibility being automatically implied for all qualifying credit unions.
GLOSSARY
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NCUA (National Credit Union Administration)
The independent federal agency that charters and supervises federal credit unions and insures deposits at federal and state-chartered credit unions.
Central Liquidity Facility (CLF)
A mixed-ownership government corporation within the NCUA that serves as a liquidity lender for credit unions, providing short-term loans to help them meet unexpected cash needs.
Agent member
A credit union that belongs to the Central Liquidity Facility and can borrow funds from it on behalf of other, smaller credit unions.
Federal Credit Union Act
The federal law that established the NCUA and governs the operations of federal credit unions and the credit union system.
Discretion
The power or right to decide or act according to one's own judgment; in this context, the NCUA Board's ability to choose.
ACTION TIMELINE
2 EVENTS
JUL 30, 25
Introduced in Senate
INTROREFERRAL
JUL 30, 25
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4907)