Section 1 Short title
This Act may be cited as the “Preserving Capital Access and Mortgage Liquidity Act of 2015”.
Preserving Capital Access and Mortgage Liquidity Act of 2015
A BILL
To include credit unions as community financial institutions under the Federal Home Loan Bank Act.
Sec. 2 Definition of a community financial institution
Section 2(10)(A)(i) of the Federal Home Loan Bank Act (12 U.S.C. 1422(10)(A)(i)) is amended to read as follows:
“(i)
“(I) the deposits of which are insured under the Federal Deposit Insurance Act; or
“(II) that is a Federal credit union or a State credit union (as such terms are defined, respectively, under section 101 of the Federal Credit Union Act); and”