Onsite Coverage: NCUA Board Approves Corporate Rescue Assessment
As expected, the NCUA Board on Monday approved an assessment of 0.25% of insured shares to help pay principal and interest on bonds issued by corporate credit unions.
The total assessment for the Temporary Corporate Credit Union Stabilization Fund will be $1.96 billion, the agency said.
Agency staff said the primary payments the Stabilization Fund needs to make this year include $2 billion on notes that come due in October.
An offer by the NCUA to provide credit unions the opportunity to prepay the assessments fell short in recent weeks.