The Congress finds that the establishment of a National Credit Union Central Liquidity Facility is needed to improve general financial stability by meeting the liquidity needs of credit unions and thereby encourage savings, support consumer and mortgage lending, and provide basic financial resources to all segments of the economy.
Terms Used In 12 USC 1795
- Facility: means the National Credit Union Central Liquidity Facility. See 12 USC 1795a
- liquidity needs: means the needs of credit unions for--
(A) short-term adjustment credit available to assist in meeting temporary requirements for funds or to cushion more persistent outflows of funds pending an orderly adjustment of credit union assets and liabilities. See 12 USC 1795a
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.