NCUA has announced a free webinar “CLF and Your Credit Union’s Contingent Liquidity” to be held on Tuesday, 8/14 at 2 p.m.(eastern). Featured presenter is Owen Cole, President of the Central Liquidity Facility (CLF). He'll discuss:
- upcoming changes in the ownership of the CLF
- the CLF’s role in meeting credit unions’ contingent liquidity needs
- NCUA's proposed rule on access to emergency liquidity
The CLF, a lender of last resort to credit unions, was created to improve the general financial stability of credit unions by serving as a liquidity lender for those experiencing unusual or unexpected liquidity shortfalls. When U.S. Central Bridge Credit Union closes in late October, more than 6,000 credit unions will lose access to the CLF. Credit unions need to plan for this change.
NCUA has proposed a rule on emergency liquidity which incorporates a three-tiered approach, based on the size of the federally insured credit union’s assets. Comments can be made until 9/8/12.
Before the webinar, participants are encouraged to review the Frequently Asked Questions about the CLF. NCUA will distribute these questions in a Letter to Credit Unions during the next week. NCUA makes Letters to Credit Unions available online. Participants can also submit questions in advance at WebinarQuestions@ncua.gov. The subject line should read “CLF and Your Credit Union’s Contingent Liquidity.”
Free registration for the NCUA webinar on liquidity issues is now available.
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