Title 12 › Chapter CHAPTER 14— - FEDERAL CREDIT UNIONS › Subchapter SUBCHAPTER III— - CENTRAL LIQUIDITY FACILITY › § 1795e
Members can ask the Facility for short-term loans when they need cash. The Board must say yes or no within five working days. The Board must not OK loans meant to let credit unions grow their loan portfolios. The Board can make loans on terms it sets after checking creditworthiness. If a credit union’s deposits are insured by a state guaranty, the Board must talk with that state insurer before lending to that credit union. The Treasury Secretary may lend up to $500,000,000 to the Facility if the Board certifies it needs more money. Any such loan can charge no more than one-eighth of 1 percent above the current average market yield on U.S. securities of similar maturity. The Secretary’s power to lend only applies to money Congress has approved in advance.
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Banks and Banking — Source: USLM XML via OLRC
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12 U.S.C. § 1795e
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73