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Estimated Minimum Legacy Asset Losses Increase $800 Million

Moves to both high and low estimates.

By Heather Anderson | Updated on June 29, 2012

According to new information released online today by the NCUA, the conservative end of estimated corporate legacy asset losses financed by Temporary Corporate Credit Union Stabilization Fund increased to $2.7 billion as of December 31, 2011, up from $1.9 billion as of June 2011.

That means federally insured credit unions could be on the hook for an additional $800 million, which will be paid through assessments until the fund expires in 2021. On the bright side, the high end of estimated losses decreased by $200 million during the same period, falling to $6.0 billion. Altogether, the estimated range of legacy asset losses is between $2.7 billion and $6.0 billion.

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