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ACCU agrees with $1.5 billion CLF cap - for 2003 at least

WASHINGTON - When Y2K was looming the cap on NCUA's Central Liquidity Facility was a big deal. It's not as much so now with liquidity flush, but CU groups still feel the cap is too low. The Association of Corporate CUs, which represents corporates, the liquidity providers for CUs, wrote...

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<p>WASHINGTON – When Y2K was looming the cap on NCUA’s Central Liquidity Facility was a big deal. It’s not as much so now with liquidity flush, but CU groups still feel the cap is too low. The Association of Corporate CUs, which represents corporates, the liquidity providers for CUs, wrote to Rep. James T. Walsh (R-N.Y.), chairman of the House subcommittee on VA-HUD and independent agencies, supporting the proposed $1.5 billion cap on CLF. The ACCCU stated that it believes any sort of cap on the CLF is unnecessary, but that $1.5 billion would be appropriate for 2003.</p>

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