[Congressional Record Volume 171, Number 131 (Wednesday, July 30, 2025)]
[Senate]
[Page S4907]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. PADILLA (for himself and Mr. Cramer):
  S. 2545. A bill to amend the Federal Credit Union Act to provide for 
certain ways in which credit unions may be Agent members of the 
National Credit Union Administration Central Liquidity Facility; to the 
Committee on Banking, Housing, and Urban Affairs.
  Mr. PADILLA. Mr. President, I rise to introduce the bipartisan NCUA 
Central Liquidity Facility Enhancements Act.
  In December 2022, the temporary statutory enhancements that assisted 
the agent membership of corporate credit unions expired, leaving 3,322 
smaller credit unions without access to the National Credit Union 
Administration's, NCUA, Central Liquidity Facility, CLF. This also 
contracted the facility's capacity by almost $10 billion.
  This bill would grant the NCUA Board permanent statutory authority to 
determine the amount of capital stock in the CLF required for a 
corporate credit union to become a member of the facility, allowing 
more institutions to access this important backup liquidity source.
  At a time of increased interest rate and liquidity risks for some 
credit unions, the CLF's role is increasingly important. This 
flexibility will ensure that the CLF can contain or avert any liquidity 
crises before they escalate and provide financial stability.
  I thank Senator Cramer for introducing this legislation with me in 
the Senate. I hope all our colleagues will join us in supporting this 
bill to ensure that the CLF can appropriately and rapidly respond to 
economic events.
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