WASHINGTON-The Senate Appropriations Committee passed a favorable report on to the full Senate concerning the Veterans Affairs, Housing and Urban Development, and Independent Agencies (VA-HUD) appropriations legislation, which encapsulates the Central Liquidity Facility (CLF). The NCUA’s CLF was permitted to retain its $1.5 billion borrowing authority for fiscal year 2003 as it has since the era of Y2K. The CLF provides credit unions with a back-up source of liquidity. While the Federal Credit Union Act provides no cap on the facility, which is not funded with taxpayer dollars, lawmakers have seen fit to place one on it. Prior to the millennium date change the borrowing ceiling was set at $600 million, not nearly enough to cover the approximately half a trillion dollar industry.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2025 ALM Global, LLC. All Rights Reserved.