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The Association of Corporate Credit Unions asked the NCUA to reconsider its position on corporate capital write downs during a special Nov. 5 meeting that was closed to the press.

According to a “Discussion Framework” document produced for the meeting, which was obtained by the Credit Union Times, the trade association recommended the NCUA clarify its 09-CU-10 Letter to Credit Unions to “reflect that a Corproate’s Board of Directors has the discretion and authority to replenish capital if loss projections don’t materialize and asset values recover.”

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