Ambac

• Members United to Deplete More Capital

  By Heather Anderson  |  May 26, 2010

  New losses at the $9.5 billion Members United Corporate Federal Credit Union will leave the struggling corporate hanging by its fingernails, requiring it to deplete "substantially all" of its remaining capital.

• Members United MCS Now 97% Impaired

  By Heather Anderson  |  May 18, 2010

  The $9.5 billion Members United Corporate Federal Credit Union released its April 2010 and year-end 2009 audit today, reporting additional OTTIs that will impair member capital shares by 97%.

• Corporate Losses Have Not Yet Reached the Bottom

  By Heather Anderson  |  May 5, 2010

  Western Corporate FCU's investments are performing worse than previously estimated by the NCUA and Clayton Holdings, according to new OTTIs recorded for March.

• High Hurdles to Dump Legacy Assets

  By Heather Anderson  |  May 5, 2010

  Federal accounting rules, deteriorating securities and an increasing corporate bailout price tag are hurdles the NCUA will have to overcome in its quest to rid corporates of toxic investments.

• Ambac Restructuring May Cost Corporate CUs $400 Million

  By Heather Anderson  |  April 28, 2010

  Monoline insurer Ambac's forced restructuring could cost corporate credit unions as much as $400 million in new OTTIs.

• Members United Investment Losses Still Under Review

  By Heather Anderson  |  April 26, 2010

  Members United Corporate FCU posted its March 2010 financial reports online today (www.membersunited.org/FinancialCenter.html); but, like the $8.5 billion institution's year-end figures, they do not include investment losses.

• WesCorp's Investments Performing Worse Than Projected

  By Heather Anderson  |  April 26, 2010

  Western Corporate FCU's investment portfolio is performing worse than previously estimated by NCUA and Clayton Holdings.

• Ambac Restructure Trickles Down to WesCorp

  By Heather Anderson  |  April 22, 2010

  Later today, the $22 billion Western Corporate FCU will announce $25.4 in new OTTIs due to monoline insurer Ambac's declining ability to meet bond insurance claims, NCUA spokesman John McKechnie told the Credit Union Times.

• Ambac Restructure Costs U.S. Central $274 Million

  By Heather Anderson  |  April 21, 2010

  Monoline insurer Ambac's weakened condition resulted in an additional $274 million worth of losses for U.S. Central FCU

• Worries Over U.S. Central

  By Heather Anderson  |  March 10, 2010

  A nearly $500 million fourth-quarter other-than-temporary impairment blew through what was left of the $35 billion U.S