Any bill that funds the federal government should include a provision to keep the Central Liquidity Facility's loan ceiling at $41 billion, CUNA President/CEO Dan Mica wrote lawmakers today.
Mica wrote that by doing so Congress would be giving the NCUA "the tools it tools it needs should unexpected problems arise within the credit union movement. In addition, extending the authority of NCUA to tap the CLF up to its statutory cap will further bolster public confidence in the credit union system."
Congress lifted the ceiling last fall and the NCUA asked lawmakers earlier this month to keep it at that level. Lawmakers are likely to deal with the matter when they return from recess next week and consider a resolution to fund the government for the remainder of the fiscal year, which runs through Sept. 30.
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