The NCUA will repay the U.S. Treasury the $1 billion outstanding balance on the agency's borrowing line by Oct. 31, NCUA officials announced today.
With that payment, the Temporary Corporate Credit Union Stabilization Fund's outstanding borrowings from the U.S. Treasury will be fully repaid. NCUA's $6 billion borrowing line remains available to satisfy any contingency funding needs in the future, including obligations of the NCUA Guaranteed Notes Program.
"The success of the corporate resolution program is a testament to the hard work and perseverance of our entire team, and I extend my deep personal gratitude to all of them for making this possible," NCUA Board Chairman Rick Metsger said.
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