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Hood Asks Senate Banking Committee to Extend CLF Changes

Central Liquidity Facility changes enacted by Congress are set to expire at the end of the year.

U.S. Capitol. U.S. Capitol. (Source: Shutterstock)

Saying that the credit union system remains healthy but may need added liquidity, NCUA Chairman Rodney Hood asked the Senate Banking Committee Tuesday to extend the provisions of pandemic-related legislation that provided the agency’s Central Liquidity Facility with increased borrowing authority.

“While economic conditions are improving, the effects of the recent downturn will likely affect credit union performance through the end of the year and into 2021,” Hood said during a committee hearing featuring financial regulators.

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David Baumann

 

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