MADISON, Wis. (5/4/09)--Here are the Top 10 News Now
stories most requested by readers during April. Use the link to review the entire story online. 10. NCUA advisory addresses changes in Corporate CU Share Guarantee Program
ALEXANDRIA, Va. (4/27/09)--The National Credit Union Administration (NCUA) Board Friday issued another media advisory to provide information on recent changes to the Temporary Corporate Credit Union Share Guarantee Program. 9. Senate card bill includes NCUA emergency borrowing
WASHINGTON (4/1/09)--Voting 12 to 11 in favor of a credit card best practices bill, the Senate Banking Committee passed legislation Tuesday that included consideration of amendments important to credit unions, including creating National Credit Union Administration (NCUA) emergency lending authority. 8. NCUA releases summary of PIMCO report
ALEXANDRIA, Va. (4/20/09)--The National Credit Union Administration (NCUA) released a summary of the analysis of the Pacific Investment Management Company LLC (PIMCO) on the residential mortgage-backed securities held by corporate credit unions Friday. 7. NCUA memo guides on delaying NCUSIF write-downs
WASHINGTON (4/7/09)--In a memo Friday to regional directors and examiners, shared with the Credit Union National Association (CUNA), the National Credit Union Administration (NCUA) is providing guidance to field staff on an accounting bulletin (AB 09-02) released earlier in the week addressing corporate credit union issues. 6. Limited services, smaller numbers among CUNA recommendations
WASHINGTON (4/7/09)--A revamped corporate credit union system would be most effective if it offered limited services (leading to reduction in the number of corporates), served a national field of membership, met stronger capital requirements, and included a prescribed number of "outside directors" who could "contribute diverse experiences" to a corporate's board, the Credit Union National Association (CUNA) has written in a comment letter to the National Credit Union Administration (NCUA). 5. NCUA reiterates: Flexible stance on impairment accounting
WASHINGTON (4/2/09)--The National Credit Union Administration (NCUA) intends to issue an accounting bulletin stating the agency will be flexible about when a credit union books the cost of the premium being assessed to replenish the National Credit Union Share Insurance Fund (NCUSIF). 4. FASB acts on mark-to-market, OTTI
WASHINGTON (4/3/09)--The Financial Accounting Standards Board (FASB) Thursday adopted rule changes on mark-to-market accounting and on treatment of the "other-than-temporary impairment" (OTTI) of assets. 3. NCUA says guidance coming on 'extinguishment'
ALEXANDRIA, Va. (4/16/09)--The National Credit Union Administration (NCUA) intends to issue its next accounting guidance on corporate credit union issues Friday as part of its weekly release of information on the corporate situation. 2. NCUA provides deeper info on corporate analysis
ALEXANDRIA, Va. (4/13/09)—National Credit Union Administration (NCUA) Chairman Michael Fryzel Friday released a summary of the agency's analysis of the distressed securities held by U.S. Central FCU (U.S. Central) and Western Corporate FCU (WesCorp). 1. More accounting guidance sent to NCUA examiners
WASHINGTON (4/10/09)--National Credit Union Administration (NCUA) examiners received additional clarification today regarding credit unions' flexibility in booking the National Credit Union Share Insurance Fund (NCUSIF) deposit impairment, according to NCUA.