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NCUA Will Release PIMCO Summary Soon

NCUA will release a summary of its commissioned PIMCO report "in the near future", said Chairman Michael Fryzel today. Comments from the agency's leader were included in NCUA's weekly Friday corporate update.

By Heather Anderson | Updated on April 09, 2009

NCUA will release a summary of its commissioned PIMCO report “in the near future”, said Chairman Michael Fryzel today. Comments from the agency’s leader were included in NCUA’s weekly Friday corporate update.

Fryzel addressed criticism that NCUA has lacked transparency in its action to place both U.S. Central FCU and Western Corporate FCU into conservatorship, acknowledging that “the incomplete or insufficient nature of available information has led some to question the necessity of the NCUA’s actions and level of expected credit losses being projected.”

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