Bill > S2545

This bill proposes to modify the Federal Credit Union Act by changing the language around Agent membership in the National Credit Union Administration (NCUA) Central Liquidity Facility (CLF). Specifically, the bill gives the NCUA Board more discretion in determining which credit unions can become Agent members of the CLF. Currently, the law requires that "all those credit unions" can be Agent members, but this bill would replace that language with allowing the Board to decide "such credit unions as the Board may in its discretion determine." The Central Liquidity Facility is a government-run entity designed to help credit unions maintain liquidity and financial stability during times of economic stress, and this amendment would provide the NCUA Board with greater flexibility in selecting which credit unions can participate as Agent members of the facility. The bill is officially titled the "NCUA Central Liquidity Facility Enhancements Act" and represents a modest but potentially significant change in how credit unions can access this important financial support mechanism.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/2545/all-info