Legacy asset performance and 2013 assessment reduces estimated outstanding corporate stabilization costs to less than $1.6 billion.
This Opinion piece looks at the NCUA's corporate credit union rescue and the accompanying assessments, and what's in store next.
Agency says at monthly meeting that four first-quarter liquidations have cost $75,000 in associated losses.
The Temporary Corporate Credit Union Stabilization Fund has received a clean audit opinion for 2012, the NCUA announced last week.
Board chair says audit shows agency is fulfilling its financial reporting responsibilities, will soon update system resolution costs.
Notes payoff called important milestone in efforts to resolve the failure of five corporates.
The reduced corporate bill is the result of legacy asset performance and the macroeconomic factors used to project their future performance, the NCUA said in a release.
Topics include economy, FSOC annual report and corporate assessments.
The NCUA’s 2011 Annual Report, posted Tuesday on the regulator’s website, details an agency and industry steadily recovering from the recession.
The Temporary Corporate Credit Union Stabilization Fund made progress against legacy asset losses in 2011, improving the fund’s net position from 2010, according to audited financial statements released by the NCUA. The fund also received a clean report from outside auditors.