12 USC 1795j – Agent of Federal Reserve System
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The facility is authorized to act upon the request of the Board of Governors of the Federal Reserve System as an agent of the Federal Reserve System in matters pertaining to credit unions under such terms and conditions as may be established by the Board of Governors of the Federal Reserve System.
Terms Used In 12 USC 1795j
- Board: means the National Credit Union Administration Board. See 12 USC 1752
- Facility: means the National Credit Union Central Liquidity Facility. See 12 USC 1795a
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC