Program debuted after NCUA eased loan concentration limits.
The Texas corporate has experience as an NCUA derivative pilot provider.
Credit Union Economics Group meets with Federal Reserve officials for 11th year.
JPMorgan Chase’s $2 billion failed credit risk hedge is different than the investments that led to the corporate credit union crisis. However, there are also similarities, according to industry investment experts. Specifically, overleveraging and a drive for income that compromised risk management.
Charles Furbee, who retired from the Federal Reserve Bank of Chicago in March 2004, has been named CEO of the conserved Members United Corporate FCU.
The $10 billion Southwest Corporate FCU joined Corporate One FCU in deciding not to take any additional OTTI related to the Wisconsin insurance regulator's March 25 action against monoline insurer Ambac Assurance Corp.