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Credit union CLF borrowing capacity exceeds $25M
The NCUA announced yesterday that the Central Liquidity Facility (CLF) has experienced a significant increase in its membership and borrowing capacity. In total, 3,797 credit unions, or 73 percent all federally insured credit unions, have access to the CLF, either as a regular member or through their corporate credit union. Under the temporary authority granted by the CARES Act, the CLF can borrow sixteen times its total capital. As of May 31, the facility’s borrowing authority stood at $25.8 billion, an increase of $15.3 billion since April.