Federally insured credit unions could potentially receive a rebate on corporate assessments, according to a Feb. 12 release from the NCUA. However, the final tally won't come until 2021, the regulator cautioned.
The net remaining stabilization fund projected assessment range now runs from negative $1.9 billion to negative $400 million, compared to the negative $200 million to $1.6 billion projection from the second quarter of 2013, the NCUA said. As long as both ends of the range remain negative, there will likely be no need for future assessments, the agency added.
The net proceeds from the $1.4 billion JPMorgan Chase settlement in November 2013 and the continued improvement in the performance of the legacy assets underlying the NCUA Guaranteed Notes program during the third quarter of 2013 caused the decline in the assessment range.
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