During its closed session next Tuesday, the NCUA is planning to consider a proposal to extend its guarantees of natural person credit union deposits in corporate credit unions, NCUA Executive Director David Marquis said today.
Under the plan, the agency would guarantee deposits for an additional two years on a rolling basis. He told reporters on a conference call that doing this would enable corporates to "ladder their investments."
Laddering investments is an approach used to spread out the dates when their investments mature.
Recommended For You
As part of the corporate stabilization plan announced in January, the NCUA agreed to guarantee all deposits in corporate credit unions through the end of 2010.
The NCUA also said that on Friday it plans to release a summary of the PIMCO analysis of the corporate credit union investments that took place prior to the agency's decision to place U.S. Central Corporate Federal Credit Union and Western Corporate Federal Credit Union into conservatorship.
NCUA Deputy Executive Director Larry Fazio said the summary will be limited and will focus on describing the scope of the study and the non-proprietary aspects of its methodology.
© 2025 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.
