Corporate Bond Tracking Website Planned by NCUA
NCUA staff are working to develop a new website that credit unions and investors interested in the performance of NCUA-issued bonds can use to track and project bond performance.
Larry Fazio, NCUA's director of examination and insurance, revealed the effort when he appeared before the NCUA Board at its Monday board meeting to answer questions about a new committee the agency was asked to form to manage the bonds.
NCUA bonds issued as part of the corporate credit union rescue effort were part of the S&P downgrade in early August.
The new website will part of the additional transparency about the bonds that Fazio said the new committee will help deliver.
The new site will accessible from the agency's home page and Fazio said it would contain information about all the bonds' performance and details in a format understandable for investors and lay people.
The staff hoped the new website would be ready for the public within four to six weeks, Fazio said.
"We have already been working on building out some of the pages,” he said.