The Central Liquidity Facility would continue to be able to borrow up to $41.5 billion from the Treasury Department under the Obama administration's budget request submitted to Congress last week.
The spending proposal, which is for the fiscal year that starts on Oct. 1, continues the increased borrowing cap for the CLF, based on the borrowing authority formula set up in Federal Credit Union Act.
The budget plan also contains a request for $1 million for the NCUA's Community Development Revolving Loan Fund.
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The budget also proposes changes in the student loan program that would eliminate subsidies to credit unions and other financial institutions under the Federal Family Education Loan Program. Instead, loans would be channeled through a direct loan program run by the government, though financial institutions would continue to receive subsidies for loans already originated.
The administration contends this will save $4 billion annually.
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