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NCUA’s sale of $800 million worth of U.S. Central FCU and Western Corporate FCU securities announced yesterday wasn’t part of the regulator’s legacy assets plan.

Rather, the transaction was one many already-completed sales of performing commercial real estate backed securities owned by the two seized corporates. NCUA has been applying sale proceeds toward a $10 billion loan from the U.S. Treasury to the seized corporates, and will apply future proceeds from additional sales until the borrowing is paid in full.

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