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Becker: NCUA Reviewing FDIC Corporate Debt Sale

NAFCU President/CEO Fred Becker told the Credit Union Times today he thinks the NCUA is "trying something similar" to the FDIC as it attempts to separate toxic assets from corporates seeking recapitalization.

By Heather Anderson | Updated on March 08, 2010

NAFCU President/CEO Fred Becker told the Credit Union Times today he thinks the NCUA is “trying something similar” to the FDIC as it attempts to separate toxic assets from corporates seeking recapitalization. Friday, the FDIC sold $1.8 billion worth of corporate debt backed by mortgage backed securities previously owned by failed banks.

Becker said his main concern over a similar plan for credit unions would be the cost of offering toxic securities at a mark-to-market price, and how that would affect corporate assessments for federally insured credit unions.

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