NCUA approves rule to facilitate credit union access to central liquidity facility

Federal Issues Covid-19 NCUA Credit Union

On April 13, the NCUA approved an interim final rule intended to make it easier for credit unions to join the NCUA’s Central Liquidity Facility, a mixed-ownership governing corporation, which can be used as a source of contingency liquidity. The rule now permits credit unions to join the facility as a direct member or through an agency relationship. It also eliminates the waiting period for new members to receive advances and eases collateral requirements.