Approximately 45% of federally insured credit unions would have to develop interest rate risk management policies that include extensive use of risk measurement systems and internal controls, according to a rule approved by the NCUA Board at its Jan. 26 meeting.
Approximately 45% of federally insured credit unions would have to develop extensive new interest rate risk management policies, according to a rule issued by the NCUA on Thursday
ALEXANDRIA, Va. — The NCUA giveth and the NCUA taketh away. At its Dec. 15 meeting the agency’s board proposed placing more restrictions on loan participations while granting credit unions greater flexibility in other areas.
Saying that it failed to disclose the risks to two now-defunct corporate credit unions, the NCUA is suing the company formerly known as Wachovia Securities.
Credit unions should set aside between 8 and 11 basis points for next year’s assessment to pay for the corporate credit union rescue, NCUA Chairman Debbie Matz advised last week.
More of the costs left over from failed corporate credit unions will hit most existing credit unions in late September. The NCUA Board approved assessing federally insured credit unions an additional 25 basis points of insured shares to help foot the bill for the Temporary Corporate Credit Union Stabilization Fund.
The NCUA board decided that keeping track of the bonds it has issued as part of the corporate stabilization effort has grown so complex that the agency has decided to hire a committee to oversee it.
New site will provide transparency for investors, public to track and project bond performance.
CU leaders want update on agency actions in capitalization and provider services.
Agency board told Monday that losses may not be as large as originally projected.