ALEXANDRIA, Va. – Unanimous board vote eliminates 5% threshold on FCU investments in fixed assets.
The Temporary Corporate Credit Union Stabilization Fund receives sixth consecutive clean audit opinion.
The NCUA board-managed stabilization fund reaches a first-ever positive net position.
Four permanent funds receive clean audit opinions from KPMG LLP.
Stabilization Fund and other obligations must be paid before regulator can pay credit unions.
The NCUA's four permanent funds have received unmodified audit opinions for the year 2013.
Federally insured credit unions could potentially receive a rebate on corporate assessments, according to a Feb. 12 release from the NCUA. However, the final tally won't come until 2021, the regulator cautioned.
NCUSIF, operating fund, community development revolving loan fund and CLF all received clean opinions from KPMG.
Revealing the settlement's net gain could jeopardize ongoing negotiations with deep-pocketed Wall Street firms, NCUA's general counsel says.
JPMorgan Chase settlement eliminated future assessments, but NCUA won't reveal how much it paid in lawyer's fees.