Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Credit rating equivalents proposed under Dodd-Frank
ALEXANDRIA, Va. (2/18/11)--The National Credit Union Administration (NCUA) adopted a proposal Thursday that would replace or remove references to credit ratings in NCUA’s regulations as specified by a provision in the Dodd-Frank Wall Street Reform Act. The proposal would affect credit rating references for investments, counterparty transactions, as well as other uses of such references. Essentially, the agency proposal would replace references to credit ratings such as “AA” with equivalent terms like “very strong capacity to meet its financial commitments.” The proposal would also revise the NCUA’s liquidation rules (12 C.F.R. part 709) to state that the agency will use its statutory power to repudiate contracts with respect to transactions involving investments transferred by a failed credit union. Use the resource link below to see the NCUA proposal.
Other Resources

RSS





print
News Now LiveWire
#Maine #creditunion membership growth continues record pace http://t.co/yFRur4TQ0x
15 hours ago
.@TheNCUA closes N.Dade Community Development FCU,Miami Gardens, Fla. determining CU violated some charter provisions,bylaws & fed. rules.
17 hours ago
Why a #creditunion can be a good fit for #smallbiz http://t.co/l7Df9b8vQZ @fundbox
19 hours ago
Who's most adept at saving these days? The middle class, says @Bankrate http://t.co/zVi7typdVU
19 hours ago
.@OregonCCU donates $20K in Sprint program monies to @CMNHospitals @CU4Kids via @NWCUA http://t.co/0wTAH5NTNI
20 hours ago