The NCUA will form an "oversight committee" to manage the guaranteed notes that have been issued as part of the corporate stabilization program, the NCUA Board decided at its meeting Monday.
The NCUA Guaranteed Note Securities Management and Oversight Committee will "ensure that NCUA fulfills its ongoing responsibilities under the NGN program in a manner that promotes transparency, efficiency and accountability," the agency said.
The committee will have five new full-time staff positions and a budget of $200,000, but the money would be taken from the stabilization fund and not from the agency's general budget. The NCUA Board approved the new committee unanimously.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 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.
