Fewer losses, portfolio growth and a decline in at-risk credit unions allows transfer of $278.6 million to Temporary Corporate Credit Union Stabilization Fund.
The NCUSIF's equity ratio will likely end 2011 at between 1.28% and 1.32% and possibly lower assessments for corporate rescues could follow.
Corporate rescue assessment on the list.
Saying it only received $369.9 million in pledges, the NCUA announced last week that it will not go forward with the program allowing credit unions to prepay some of their assessments on the cost of
There is, we are told, no such thing as a free lunch. For the NCUA, however, there may well be free money.
Thursday session will lay out details of plan to allow credit unions to prepay into the Temporary Corporate Credit Union Stabilization Fund.
ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions, the NCUA proposed Thursday.