SEC Issues No-Action Letter on Corporate CU Legacy Assets Guaranteed Securities

Here is the link to the September 24 letter from the NCUA to the Securities and Exchange Commission (SEC) requesting a No-Action Letter from the SEC that the Guaranteed Securities to be issued regarding the resolution of the corporate credit union legacy assets "will be considered to be securities which are (i) guaranteed by an instrumentality of the United States Government for purposes of Section 3(a)(2) of the Securities Act and (ii) obligations guaranteed as to principal or interest by the United States for purposes of Section 3(a)(42)(A) of the Exchange Act, thus qualifying as "exempted securities" as defined in Section 3(a)(l2) of the Exchange Act and therefore not subject to registration under Section 12 of the Exchange Act."

Here is the SEC's No-Action Letter to NCUA.