Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Fryzel NCUA vigilant on CU health
ALEXANDRIA, Va. (9/30/08)—National Credit Union Administration (NCUA) Chairman Michael Fryzel said he was “extremely pleased” by recent congressional action to increase the agency’s Central Liquidity Facility’s lending limit. Fryzel said the NCUA’s pursuit of authority to lend to the CLF’s full statutory level—currently at around $41 billion—gives the agency another tool that could assist credit unions withstand the market turbulence gripping the country. "Overall, the actions of Congress this week will play a major role in determining the health of the financial institutions for decades to come," Fryzel said, referring to effortst to approve the Emergency Economic Stabilization Act. "The magnitude of the asset repurchasing legislation being considered, regardless of the final product, will impact all financial institutions, including credit unions," the chairman noted, He added: “Credit unions comprise a significant component of the financial system. My goal is to make certain that they remain safe, sound and well-positioned to deal with the uncertainties presented by problems in the broader markets. “Credit union members rightfully depend on NCUA's strong and vigilant oversight, and I am confident that, working closely with Congress, we will find solutions to put in place the kinds of safeguards that achieve that goal."


RSS print
News Now LiveWire
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
5 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
6 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
6 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
6 hours ago
New #FinCEN proposal would strengthen, clarify due diligence obligations for financial institutions. http://t.co/2yxVUXCrYA
6 hours ago