ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, NCUA CFO Mary Ann Woodson told the agency's board on Thursday.
She said any funds above 1.3% would be transferred to the Temporary Corporate Credit Union Stabilization Fund.
The agency would then "do an analysis of the cash needs" of the fund and determine whether they can lower the assessment level for next year, Woodson said at the NCUA Board meeting at its offices in Alexandria, Va.
The NCUSIF's equity ratio was 1.3% in July and August.
At the request of NCUA Chairman Debbie Matz, Woodson will present updated projections at the board's November meeting so the board can give a range for next year's assessments for paying for the rescue of corporate credit unions.
Continue Reading for Free
Register and gain access to:
- 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.
