ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, which could mean a lower assessment to pay for the corporate credit union rescue, NCUA Chief Financial Officer Mary Ann Woodson told the agency's board last Thursday.
The NCUSIF's equity ratio will likely end 2011 at between 1.28% and 1.32% and possibly lower assessments for corporate rescues could follow.
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.
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.
Agency board told Monday that losses may not be as large as originally projected.
ALEXANDRIA, Va. — CUSOs would have to submit financial reports to the NCUA and there would be limits on the investments certain credit unions can make in CUSOs, according to a proposed rule the NCUA sent out for comment on July 21.
ALEXANDRIA, Va. — Fewer credit union shares are in troubled credit unions, the NCUA reported Thursday.
ALEXANDRIA, Va. — The percentage of insured shares in credit unions rated CAMEL 3 or above declined slightly last month, the NCUA reported Friday.
ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions under a proposal announced at the May 19 NCUA board meeting.
ALEXANDRIA, Va. — While CAMEL 4 and 5 CUs increased, the percentage of total shares declined, the agency's CFO said Thursday.