Assets in problem credit unions increased from $19.7 billion at the end of 2008 to $48.1 billion at the end of 2009.
Shares (deposits) in problem credit unions increased from $16.3 billion to $41.6 billion. As a result, the percentage of insured shares (deposits) in problem credit unions rose over the year from 2.70 percent to 5.82 percent.
NCUA is reporting that at the end of 2009, there were 9 credit unions with over $1 billion in assets on the problem list, up from 5 in 2008. Twelve credit unions holding $500 million to $1 billion in assets were on the problem list, up from 4 credit unions. For credit unions between $100 million and $500 milion in assets, there was an increase of 38 on the problem credit union list in 2009 to 54 credit unions.
Credit unions with $100 million or more in assets accounted for almost 95 percent of the increase in shares ($23.9 billion) in problem assets over the last year.
how does this data for CUs compare to problem bank assets as a % of total bank assets? therefore, combined with the inability to raise capital (and less earnings as compared to banks), which is more at risk to capital confiscation from their respective industry--banks or cus? and, what role does the ccu problem play in adding (or not) to the risk to cu's, since banks don't have "corporates"?
ReplyDeleteDoes the NCUA report exist on its website? I can't seem to find it.
ReplyDeleteNeed to look at draft agenda items for January 29,2009 NCUA Board meeting. Under Insurance Fund Report, click on item 2b. This will bring up a powerpoint presentation that was presented to the NCUA Board this morning.
ReplyDelete