ALEXANDRIA, Va. — There will not be a corporate assessment in 2014.
The NCUA Board on Thursday released an estimated range of zero for the corporate stabilization annual charge, assessed on all federally insured credit unions.
Also at NCUA on Thursday:
CUSO Rule Gets Nod
Budget Hiked 6.7%
The figure is the direct result of a $1.417 billion settlement reached earlier this week with JPMorgan Chase.
"The timing of the settlement couldn't be better," NCUA Chairman Debbie Matz said.
Matz also said the settlement funds will be applied toward the corporate stabilization fund's outstanding $3.9 billion balance with the U.S. Treasury.
The NCUA also projected a 0 to 5 basis point range for the 2014 NCUSIF premium.