NCUA sent a Letter to Credit Unions (20-CU-08) this week providing information about changes to the Central Liquidity Facility (CLF) as a result of the CARES Act. According to NCUA, it is implementing initiatives that will provide greater access to liquidity so credit union operations can remain uninterrupted during this coronavirus disease (COVID-19) crisis.
NCUA encourages credit unions that are not members of the CLF to join as soon as possible, either as regular members or through an agent member.
Legislative changes to the CLF include:
Regulatory changes approved by NCUA this week to the CLF include:
Additional details on the regulatory changes approved by NCUA this week can be found on CUNA’s CompBlog.