NCUA Board Calls on Congress to Make CLF Enhancements Permanent

In a joint letter, the NCUA board requested that Congress make permanent the enhancements to the Central Liquidity Facility contained in the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

“These enhancements provide the NCUA with a vital tool to ensure continued liquidity of the credit union system as it responds to the COVID-19 pandemic and beyond,” the joint letter said. “Permanence would provide regulatory certainty for federally insured credit unions and bolster the credit union system’s ability to respond to any future emergencies by serving as an essential shock-absorber for credit unions and the National Credit Union Share Insurance Fund.”

The joint letter to Congress was signed by NCUA Chairman Todd M. Harper, Vice Chairman Kyle S. Hauptman, and Board Member Rodney E. Hood and is available on the NCUA website.