The NCUA's corporate stabilization Webinar presenters provided insight today regarding the agency's analysis of corporate investment portfolio values.

The NCUA's conservatorships of U.S. Central Federal Credit Union and Western Corporate Federal Credit Union last Friday were prompted in part by a report produced by account management firm PIMCO, which was hired by the NCUA to conduct an independent valuation of the investment portfolios of each corporate.

That report and the agency's own analysis revealed that the two corporates had "credit losses that far exceeded their capital," said NCUA Executive Director David Marquis.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.