The NCUA's plan to guarantee deposits at corporate credit unions-which could result in a premium levied on natural person credit unions-was one of the recommendations made by a consulting firm hired by the agency last year.
The NCUA today released a summary of a report by PriceWaterhouseCoopers, which also recommended using the Central Liquidity Facility to infuse liquidity in corporate credit unions, an action that would require congressional approval. The NCUA, CUNA and NAFCU have been discussing how to make such a request to lawmakers.
The NCUA hired the firm last November and it submitted its report on Jan. 16. Less than two weeks later, the NCUA issued its Corporate Credit Union Stabilization Plan, which included the deposit guarantee and also included a $1 billion capital injection in U.S. Central.
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.
