Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Bushs signature lifts CLF lending cap
WASHINGTON (10/1/08)--President George W. Bush last night signed into law a government funding resolution that also contains a borrowing cap increase for the National Credit Union Administration's (NCUA's) Central Liquidity Facility (CLF) for Fiscal Year 2009. The increased borrowing ceiling was included in a continuing resolution (CR) to keep the government funded into 2009. The legislation was approved 78-12 by the Senate on Saturday and was passed 370-58 by the House on Wednesday. The CLF provision temporarily lifts an arbitrary $1.5 billion lending cap placed on the NCUA's liquidity facility. The increased cap would allow the CLF to lend up to approximately $41 billion to the Credit Union System. Credit Union National Association (CUNA) Vice President of Legislative Affairs Ryan Donovan said the higher lending cap has been sought by the NCUA in order to have an additional regulatory tool at their disposal, if needed, and CUNA has been “working very hard over the past week to make this happen."
Other Resources

RSS print
News Now LiveWire
Are you going to be naughty or nice to your budget with holiday spending? http://t.co/FcN2YPxCIU
17 minutes ago
Did U miss the July @TheNCUA open meeting? Now a video recording is available on the agency’s website. Go here: http://t.co/cxGs2bkdKt
57 minutes ago
What about creating the Central Bank of #Bitcoin? via @ColoradoBizMag http://t.co/jNOGCxjEEt
1 hours ago
Mo. #creditunion house hosts summer caucus for state Dems #CUHouse @MCUA_news http://t.co/AoKth9ULDs
2 hours ago
La. #creditunion league launches new biz development council #NewsNow http://t.co/XTi6OFWS3Q
2 hours ago