NCUA Chairman Debbie Matz said Tuesday the agency has to repay $2.6 billion in outstanding borrowings to the U.S. Treasury.
Since the Stabilization Fund was created in 2009, credit unions have paid $4.8 billion in assessments, according to the NCUA. The Stabilization Fund is scheduled to expire in 2021.
"Principal and interest on the NCUA Guaranteed Notes, as well as other obligations of the Stabilization Fund, also must be fully repaid before NCUA can distribute any remaining funds to credit unions," the NCUA said.
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