U.S. Central Federal Credit Union and the NCUA have clarified the bottom-line affect the 2008 audit will have on member capital.

Turns out, the Dec. 31 numbers are just half of the story. What the $27 billion wholesale corporate didn’t release Friday were the Jan. 1 numbers, in which non-credit losses were reversed. U.S. Central Chief Financial Officer Kathy Brick said the only bottom-line difference is a $9.2 million impairment that will be recognized in the 3rd quarter, along with any additional impairments Clayton Holdings might find when it reviews U.S. Central’s portfolio this month.

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