NCUA Central Liquidity Facility Enhancements Act

The NCUA Central Liquidity Facility Enhancements Act would amend the Federal Credit Union Act to give the NCUA Board discretion over which credit unions can be “Agent members” of the National Credit Union Administration Central Liquidity Facility (CLF). Instead of automatically designating “all those credit unions” as agent members, the bill would allow the Board to determine, in its discretion, which credit unions may participate as agent members. The change is intended to allow the Board to tailor membership based on criteria related to safety, soundness, or other policy considerations, potentially affecting which credit unions have access to the CLF’s liquidity facilities during times of stress. In short, the bill shifts from a presumed universal eligibility for agent membership to a selective, Board-determined eligibility framework for CLF participation. This gives the regulator more control to manage risk and liquidity access across the credit union system.