1. Short title
This Act may be cited as the “Central Liquidity Facility Enhancement Act”.
Central Liquidity Facility Enhancement Act
A BILL
To amend the CARES Act to make certain enhancements to the Central Liquidity Facility permanent.
2. Permanent extension of enhancements
Effective on the date of enactment of the CARES Act—
section 4016 of the CARES Act (12 U.S.C. 1795a note) is amended by striking subsection (b); and
section 307(a)(4)(A) of the Federal Credit Union Act (12 U.S.C. 1795f(a)(4)(A)) is amended by striking “twelve times the subscribed capital stock and surplus of the Facility, provided that, the total face value of such obligations shall not exceed 16 times the subscribed capital stock and surplus of the Facility for the period beginning on the date of enactment of the Coronavirus Economic Stabilization Act of 2020 and ending on December 31, 2021” and inserting “16 times the subscribed capital stock and surplus of the Facility”.