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Washington
NCUA to tackle premiums stabilization CLF policies
ALEXANDRIA, Va. (9/21/09)—The National Credit Union Administration (NCUA) will begin its first board meeting with new Chairman Deborah Matz by discussing the National Credit Union Share Insurance Fund Premium (NCUSIF) and Stabilization Fund Assessment, which the NCUA has indicated would be in the range of .15 per cent of insured shares. The meeting, which will take place at 10 a.m. on September 24, will also feature board discussion on the NCUA’s Central Liquidity Fund (CLF)policies. The NCUA earlier this year transferred $1.8 billion in CLF funds that were held by U.S. Central FCU to the U.S. Treasury. Credit Union National Association Senior Vice President and Deputy General Counsel Mary Dunn said that the transfer “is not based on any issues with U.S. Central but is being taken in response to a concern raised by the U.S. Treasury that the deposits would be more appropriately held by Treasury.” According to Dunn, the NCUA should likely review longer term issues regarding CLF funding in the coming months. The board will also be updated on the performance of the insurance fund and on the number of credit unions that are currently financially distressed.


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