The NCUA reported today that the number of problem credit unions fell by 13 during the first quarter to 396 credit unions. A problem credit union is defined as having a CAMEL rating of 4 or 5.
Deposits (shares) in problem credit unions fell from $26.3 billion at the end of 2011 to $23.7 billion at the end of the first quarter of 2012. Assets in problem credit unions fell by $2.7 billion during the quarter to $26.7 billion. At the end of the first quarter, NCUA reported the percent of the industry’s assets and insured deposits in problem credit unions were 2.7 percent and 2.98 percent, respectively.
NCUA noted that the number of problem credit unions in the $10 million to $100 million asset range fell by 21 during the quarter to 135 credit unions. There was 6 problem credit unions with more than $1 billion in assets -- down by one -- and 44 problem credit unions with assets between $100 million and $500 million -- a net reduction of two.
Credit unions with under $10 million in assets was the only asset size class to experience an increase in problem credit unions during the quarter as the number rose by 11 to 207.
I wonder if the camel 4/5 data is as (un)reliable as the CCU loss estimates and as (un)reliable as the o.i.g.
ReplyDeleteFigure we should add 33% for NCUA fudge factor.