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NCUA Levies $1B Assessment; Matz Vows Examiner Flexibility

ALEXANDRIA, Va. -- The NCUA Board last Thursday approved a 13.4 basis point assessment for federally insured credit unions to help the Corporate Stabilization Fund repay the Treasury Department.

By Claude R. Marx | Updated on June 22, 2010

ALEXANDRIA, Va. — The NCUA Board last Thursday approved a 13.4 basis point assessment for federally insured credit unions to help the Corporate Stabilization Fund repay the Treasury Department.

The assessment is expected to raise $1 billion, which will go toward the $1.5 billion that the fund will pay to the Treasury Department by Dec. 30. The remaining $500 million will come from a reduction in the liquidity assistance provided to the corporate system, NCUA Deputy Executive Director Larry Fazio told the board.

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