According to the financial notes, Other Investments consisted of $184.7 million in commercial loans with maturies through December 31, 2017.
When I inquired with NCUA as to why the Other Investments were not part of Receivables from the Asset Management Estates, I was told by NCUA spokesperson John Fairbanks:
"[T]he NCUSIF purchased these loans in August 2012. They are wholly owned loans of the NCUSIF, held as an investment.
I cannot comment further as the purchase is part of the ongoing supervision of an operating CU."
This does raise some interesting questions:
Was this purchase of $184.7 million in commercial loans from one of the credit unions under NCUA conservatorsip?
Does this transaction represent a form of Section 208 assistance to a troubled credit union?
Review the August NCUSIF Financial Statement.