A bill to amend the Federal Credit Union Act to provide a sunset for certain ways in which credit unions may be Agent members of the National Credit Union Administration Central Liquidity Facility.

12/15/2023, 4:06 PM

This bill temporarily grants the National Credit Union Administration Board discretion in determining the amount of capital stock in the National Credit Union Administration Central Liquidity Facility is required for a corporate credit union to become an agent member of the facility. The facility serves as a liquidity lender to member credit unions.

Congress
118
Number
S - 544
Introduced on
2023-02-28
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

2/28/2023
Text
PDF
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Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

This bill temporarily grants the National Credit Union Administration Board discretion in determining the amount of capital stock in the National Credit Union Administration Central Liquidity Facility is required for a corporate credit union to become an agent member of the facility. The facility serves as a liquidity lender to member credit unions.

Alternative Names
Official Title as IntroducedA bill to amend the Federal Credit Union Act to provide a sunset for certain ways in which credit unions may be Agent members of the National Credit Union Administration Central Liquidity Facility.
Policy Areas
Finance and Financial Sector

Comments

Recent Activity

Latest Summary6/6/2023

This bill temporarily grants the National Credit Union Administration Board discretion in determining the amount of capital stock in the National Credit Union Administration Central Liquidity Facility is required for a corporate credit union to b...

Latest Action2/28/2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S533)