§ 1795a. Definitions
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/usc/title-12/section-1795aA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in this subchapter, the term—
(1)“liquidity needs” means the needs of credit unions primarily serving natural persons 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;
(B)seasonal credit available for longer periods to assist in meeting seasonal needs for funds arising from a combination of expected patterns of movement in share and deposit accounts and loans; and
(C)protracted adjustment credit available in the event of unusual or emergency circumstances of a longer term nature resulting from national, regional or local difficulties.1
(2)“Central Liquidity Facility” or “Facility” means the National Credit Union Central Liquidity Facility;
(3)“paid-in and unimpaired capital and surplus” means the balance of the paid-in share accounts and deposits as of a given date, less any loss that may have been incurred for which there is no reserve or which has not been charged against undivided earnings, plus the credit balance (or less the debit balance) of the undivided earnings account as of a given date, after all losses have been provided for and net earnings or net losses have been added thereto or deducted therefrom. Reserves shall not be considered as part of surplus,2 and
(4)“member” means a Regular or an Agent member of the Facility.
(June 26, 1934, ch. 750, title III, formerly subch. III, § 302, as added Pub. L. 95–630, title XVIII, § 1802, Nov. 10, 1978, 92 Stat. 3719; amended Pub. L. 96–221, title III, § 309(b)(1), (2), Mar. 31, 1980, 94 Stat. 149; Pub. L. 116–136, div. A, title IV, § 4016(a)(1), (b)(1)(A), Mar. 27, 2020, 134 Stat. 481, 482.)
Connections26 cite this · traces to 3
Cited by 26 sections · top 18
public-private-law
statutes-at-large
- Public Law 116–136To amend the Internal Revenue Code of 1986 to repeal the excise tax on high cost employer-sponsored health coverage
- Public Law 95–630To extend the authority for the flexible regulation of Interest rates on deposits and accounts in depository institutions
- Public Law 96–221To facilitate the implementation of monetary policy, to provide for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts, and to authorize interest-bearing transaction accounts, and for other purposes
statute-compilations
register
bill
- Sec. 2Temporary credit union provisions
- Sec. 4016Temporary credit union provisions
- Sec. 4016Temporary credit union provisions
- Sec. 2Temporary credit union provisions
- Sec. 2Permanent extension of enhancements
- Sec. 5423Extension of the Central Liquidity Facility
- Sec. 5423Extension of the Central Liquidity Facility
- Sec. 2Permanent extension of certain enhancements
Traces to 3 documents
14 references not yet in our index
- 1
- 2
- June 26, 1934, ch. 750
- Pub. L. 95–630, title XVIII, § 1802
- 92 Stat. 3719
- Pub. L. 96–221, title III, § 309(b)(1)
- 94 Stat. 149
- 134 Stat. 481
- Section 309(b)(1) of Pub. L. 96–221
- act June 26, 1934, ch. 750
- Pub. L. 96–221, § 309(b)(2)
- 134 Stat. 482
- 134 Stat. 2090
- section 1806 of Pub. L. 95–630
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§ 1795a
Definitions
Bills×10
Stat.×5
Stat. Comp.×4
Pub. L.×3
Fed. Reg.×2
U.S.C.×2
Cite1
Cite2
ActJune 26, 1934, ch. 750
Pub. L.Pub. L. 95–630, title XVIII, § 1802
Stat.92 Stat. 3719
Cites 17 · showing 8Cited by 26 across 6 sources