I 

118TH CONGRESS 

2D SESSION H. R. 10510 

To permanently extend certain enhancements related to credit unions, and 

for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 18, 2024 

Ms. WATERS introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To permanently extend certain enhancements related to 

credit unions, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Central Liquidity Fa5 cility Enhancement Act’’. 

6 SEC. 2. PERMANENT EXTENSION OF CERTAIN ENHANCE7 MENTS. 

8 (a) DEFINITIONS.—Section 302(1) of the Federal 

9 Credit Union Act (12 U.S.C. 1795a(1)) is amended, in 


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1 the matter preceding subparagraph (A), by striking ‘‘pri2 marily serving natural persons’’. 

3 (b) MEMBERSHIP.—Section 304(b)(2) of the Federal 

4 Credit Union Act (12 U.S.C. 1795c(b)(2)) is amended by 

5 striking ‘‘all those credit unions’’ and inserting ‘‘such 

6 credit unions as the Board may in its discretion deter7 mine’’. 

8 (c) EXTENSIONS OF CREDIT.—Section 306(a)(1) of 

9 the Federal Credit Union Act (12 U.S.C. 1795e(a)(1)) is 

10 amended, in the second sentence, by striking ‘‘the intent 

11 of which is to expand credit union portfolios’’ and insert12 ing ‘‘without first having obtained evidence from the appli13 cant that the applicant has made reasonable efforts to 

14 first use primary sources of liquidity of the applicant, in15 cluding balance sheet and market funding sources, to ad16 dress the liquidity needs of the applicant’’. 

17 (d) BORROWING LIMIT.—Section 307(a)(4)(A) of the 

18 Federal Credit Union Act (12 U.S.C. 1795f(a)(4)(A)) is 

19 amended by striking ‘‘twelve times the subscribed capital 

20 stock and surplus of the Facility, provided that, the total 

21 face value of such obligations shall not exceed 16 times 

22 the subscribed capital stock and surplus of the Facility 

23 for the period beginning on the date of enactment of the 

24 Coronavirus Economic Stabilization Act of 2020 and endVerDate Sep 11 2014 23:42 Jan 24, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H10510.IH H10510

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1 ing on December 31, 2021’’ and inserting ‘‘16 times the 

2 subscribed capital stock and surplus of the Facility’’. 

3 SEC. 3. GAO STUDY. 

4 (a) STUDY.—The Comptroller General of the United 

5 States shall carry out a study of the impact of the en6 hancements made to the National Credit Union Adminis7 tration Central Liquidity Facility by section 4016 of the 

8 CARES Act and section 2 of this Act. 

9 (b) REPORT.—Not later than the end of the 12- 

10 month period beginning on the date of enactment of this 

11 Act, the Comptroller General shall issue a report to the 

12 Committee on Financial Services of the House of Rep13 resentatives and the Committee on Banking, Housing, and 

14 Urban Affairs of the Senate containing— 

15 (1) all findings and determinations made in car16 rying out the study required under subsection (a); 

17 and 

18 (2) any administrative or legislative rec19 ommendations of the Comptroller General to im20 prove the effectiveness of the National Credit Union 

21 Administration Central Liquidity Facility. 

Æ 


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