Purchase would mark fourth credit union takeover of bank in past year and a half.
The bond price bubble will eventually pop as rates rise, creating potential for the next crisis: a one-two punch of deposit withdrawals and negative spreads as hundreds of credit unions fall short of the earnings needed to compete on deposit rates.
Former NCUA Board member said he can see why and why not make the FHLBs an option.
ALEXANDRIA, Va. — The NCUA’s proposed liquidity rule announced Tuesday did not include the FHLB as an emergency liquidity option.
A bill that would allow privately insured credit unions access to the Federal Home Loan Bank system has been introduced in the House.
NCUA Board Member Gigi Hyland doesn’t have to order a moving van any time soon. Even though her term on the board expired on Aug. 2, President Obama hasn’t nominated anyone to succeed her.
It is countdown to an Aug. 31 deadline for United Resources, the new corporate that may rise out of Western Bridge, but there are plenty of signs that credit unions are looking for alternatives as the evidence mounts that the capital goal will not be reached.
Two ad hoc industry groups, one in Michigan and the other in Tennessee, that have been among the most vocal in lambasting NCUA policies on corporates, salaries and compliance all year, held firm in their critical stands again last week. And they issued new complaints.
Four of the agency's corporate bond issues lose AAA rating.
Takeover of bank may be first by a federally chartered credit union, its president says.