If accounting rules are preventing NCUA from successfully separating toxic assets from corporate balance sheets without
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.
Two industry veterans say securitizing toxic corporate assets could push the cost of corporate stabilization above the current $9.5 billion tab.
Problems at corporate credit unions aren't driving a mass exodus of members seeking other providers.
NCUA officials have repeatedly said they want credit unions to determine the future structure of the corporate system.
Charlie Felker, managing director of regulatory affairs at First Empire Securities, said credit unions haven't stopped asking who's to blame for the corporate crisis.