ALEXANDRIA, Va. — The NCUA approved a temporary corporate credit union liquidity guarantee program that will operate from Oct. 16, 2008 through June 30, 2009.
Starting today, the NCUSIF is providing federally insured corporate credit unions with a 100% guarantee on new unsecured debt obligations, subject to terms detailed in the program.
The guarantee applies to new unsecured debt obligations issued by eligible corporate credit unions on or before June 30, 2009 and maturing on or before June 30, 2012, including promissory notes, commercial paper, interbank funding and any unsecured portion of secured debt.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
