NCUA is reporting that the upper end of projected assessments associated with the Temporary Corporate Credit Union Stabilization Fund (Stabilization Fund) declined between December 2011 and June 2012.
According to the agency's analysis, the estimated range of future Stabilization Fund assessments is now between $6 billion and $8.9 billion compared to a projected range between $6 billion and $9.3 billion six months earlier.
The agency cited several factors for the narrowing of the range of future assessment estimates, including changes in housing prices, interest rates, unemployment rates and mortgage prepayments.
In addition, NCUA noted a slight improvement in the performance of the legacy assets backing the NCUA Guaranteed Notes.
Read the press release.
Have heard from or talked to many fellow credit unions.
ReplyDeleteSo far, no one believes NCUA.
Wonder why?
Credit Unions to Issa, keep digging.
You'll find a mountain of "oversight" issues.
Agreed, no one believes NCUA on this topic.
ReplyDeleteNo one has forgotten that NCUA is forcing credit unions whose boards chose to NOT invest capital in the corporate credit unions, pay for the ccu losses, anyway.
These credit union boards, by not opting-in to ccu membership or serving on their boards, were sending an alert to the NCUA for years about corporates. NCUA's reply was to ignore their alerts, but send them all the bill.
No one has forgotten.
Time for congress to do its job, for once.
ReplyDeleteAll Issa needs to do is dig into CCU mess, Commodre Perry, Norlarco, forbearance, texans, telesis
Better yet. Just look into charter conversions. Especially first basin and tech cu.