The NCUA’s September economic video review is another three-part series that includes a final pitch for credit unions to finalize a new emergency liquidity provider before U.S. Central Bridge Corporate FCU closes later this month.
The third, six-minute segment – released Monday – includes a liquidity discussion between Chief Economist John Worth and J. Owen Cole, Jr., director of capital markets in the Office of Examination and Insurance.
The two discuss the consequences of U.S. Central’s closing on the Central Liquidity Facility and how it cuts off more than 6,000 credit unions from their emergency liquidity source.
The problem prompted the NCUA to propose an emergency liquidity rule in July that would require credit unions with more than $10 million in assets to establish new emergency funding sources.
In the first two videos, Worth provides an overview of the current state of the national economy, and the effect economic forecasts could have on credit unions. Worth also reviews labor and housing market activity, examines how major economic indicators varies across states, and discusses how the credit union industry’s performance is tied closely to these trends.
The videos can be viewed on the NCUA’s YouTube channel.
