Buckham to succeed Schafer in NCUA corporate top spot; U.S. Central granted waiver

<p>ALEXANDRIA,Va. – There were two corporate CU items covered in NCUA’s December closed board meeting. NCUA approved a request from U.S. Central to waive certain provisions of Part 704, the corporate reg. The waiver allows U.S. Central to invest in asset-backed commercial paper with a minimum short-term credit rating of P-1; domestic commercial mortgage backed securities; and shares of Goldman Sachs Financial Square Government Fund and Goldman Sachs Financial Square Prime Obligations Fund, provided the investments per Fund does not exceed 100% of its capital. The board also approved the appointment of Kent Buckham as Acting Director of the Office of Corporate CUs. Buckham is currently deputy director. He will assume duties on Jan. 3, the effective date of Robert Schafer’s previous announced retirement as Director of the Office of Corporate CUs. Schafer has been with NCUA in 1967. He assumed his current position in 1996.</p>