Citing the timing of cash flows, NCUA Director of Examination and Insurance Larry Fazio answered critics who have questioned the need for future corporate assessments in comments released to the press Aug. 14.

Fazio didn't shut the door on the possibility the NCUA may stall or discontinue future assessments, saying if corporate legacy asset loss estimates continue to improve, the low end of the loss range may decline to the point where no future assessments would be needed.

He also said based on projected residual legacy assets value, the NCUA Board may have more flexibility in future years to wait for the NCUA Guaranteed Notes to mature to repay the Treasury in whole or part. The majority of the 2013 assessment will be applied toward the NCUA's $4.7 billion outstanding on a U.S. Treasury credit line that funded corporate stabilization efforts, leaving a little more than $4 billion owed after the assessment is applied this fall.