The NCUA Board on Sept. 16 approved a share insurance fund premium of 12.42 basis points. At that board meeting Chairman Debbie Matz read a statement. An excerpt:
Some stakeholders called for NCUA to maintain the equity ratio below the low end of the normal operating floor of 1.2%. We gave this strategy serious consideration.
However, knowing the magnitude of credit union losses the fund has absorbed this year, plus additional losses which are likely to occur in the coming year, it is not practical to manage the fund without a reasonable margin of safety.
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.
