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Enhanced Flexibility for Credit Unions: New Funding Rules

This act permanently changes the operating rules of the Central Liquidity Facility, making it easier for credit unions to access additional funds. This will give credit unions greater flexibility in managing their finances, potentially leading to more stable services for their members. The changes aim to ensure credit unions can better respond to liquidity needs, which is important for the security of savings and credit availability.
Key points
Credit unions will gain easier access to funding from the Central Liquidity Facility, removing previous restrictions on primarily serving natural persons.
The borrowing limit for the Central Liquidity Facility will be increased, meaning a larger pool of available funds for credit unions.
A requirement is introduced for credit unions to first use their own liquidity sources before seeking assistance from the Facility, promoting responsible management.
A study will be conducted to assess the impact of these changes on the Central Liquidity Facility, evaluating their effectiveness and potential further improvements.
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Additional Information
Print number: 118_HR_10510
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2024-12-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Central Liquidity Facility Enhancement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10510.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-12-18.

What are the main provisions?

Key points include:

  • Credit unions will gain easier access to funding from the Central Liquidity Facility, removing previous restrictions on primarily serving natural persons.
  • The borrowing limit for the Central Liquidity Facility will be increased, meaning a larger pool of available funds for credit unions.
  • A requirement is introduced for credit unions to first use their own liquidity sources before seeking assistance from the Facility, promoting responsible management.
  • A study will be conducted to assess the impact of these changes on the Central Liquidity Facility, evaluating their effectiveness and potential further improvements.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Waters, Maxine [D-CA-43].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy