ALEXANDRIA, Va. (6/12/12)--National Credit Union (NCUA) Director of Examinations and Insurance Larry Fazio has acknowledged to the Credit Union National Association (CUNA) that agency staff anticipate presenting a recommendation at the July open board meeting regarding the corporate stabilization fund assessment.
Fazio said the 2012 assessment is expected to be "within the range of 8 to 11 basis points as provided back in November 2011 for credit union budgeting purposes." That compares with 25 basis points in 2011.
Earlier this year, CUNA predicted the corporate stabilization assessment would be around nine bp of insured shares in 2012.
CUNA Deputy General Counsel Mary Dunn said the 2012—standing to be well under half of what it was just one year ago—is a positive welcome development. She added that CUNA will continue to monitor the agency's management of the legacy assets in which some of the corporates had invested.