Title 12 — Banks and BankingRelease 119-73not60
§1795b National Credit Union Administration Central Liquidity Facility; Establishment; Management; Jurisdiction
Title 12 › Chapter 14— FEDERAL CREDIT UNIONS › Subchapter III— CENTRAL LIQUIDITY FACILITY › § 1795b
Summary
Creates the National Credit Union Administration Central Liquidity Facility as part of the federal government inside the National Credit Union Administration, and it must be run by the Board. U.S. district courts must be the first to hear any case where the Board, acting for the Facility, is a party, no matter how much money is involved.
Full Legal Text
Title 12, §1795b
Banks and Banking — Source: USLM XML via OLRC
There is created the National Credit Union Administration Central Liquidity Facility. The Central Liquidity Facility, an instrumentality of the United States, shall exist within the National Credit Union Administration and be managed by the Board. The United States district court shall have original jurisdiction over any case to which the Board on behalf of the Facility is a party, without regard to the amount in controversy.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification section 309(b)(1) of Pub. L. 96–221 redesignated subch. III as title III of act June 26, 1934, ch. 750, cited as a credit to this section.
Amendments
1984—Pub. L. 98–369 inserted “, an instrumentality of the United States,”. 1980—Pub. L. 96–221, § 309(a)(4), substituted “Board” for “Administrator” in two places, such change having been made previously by Pub. L. 95–630. 1978—Pub. L. 95–630, § 502(b), substituted “Board” for “Administrator” in two places.
Statutory Notes and Related Subsidiaries
Effective Date
of 1984 AmendmentAmendment by Pub. L. 98–369 effective Oct. 1, 1979, see section 2813(c) of Pub. L. 98–369, set out as an
Effective Date
note under section 1795k of this title.
Effective Date
of 1978 AmendmentAmendment effective on expiration of 120 days after Nov. 10, 1978, and transitional provisions, see section 509 of Pub. L. 95–630, set out as a note under section 1752 of this title.
Effective Date
Section effective Oct. 1, 1979, see section 1806 of Pub. L. 95–630, set out as a note under section 1795 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1795b
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60