Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW: NCUA confirms: No TCCUSF assessment in '14--and less likely after
WASHINGTON (2/12/14, UPDATED: 2:55 P.M. ET)--There will be no Temporary Corporate Credit Union Stabilization Fund (TCCUSF) assessment charged in 2014, the National Credit Union Administration has confirmed. And, credit unions are much less likely to be charged another TCCUSF assessment going forward.

These are outcomes that the Credit Union National Association has been pushing with NCUA.
 
The agency said the positive TCCUSF news is the result of a $1.4 billion settlement with JP Morgan and the continued improvement in the performance of the legacy assets underlying the NCUA Guaranteed Notes program.
 
Credit unions have paid $4.8 billion in TCCUSF assessments since the fund was established. The projected net remaining assessments over the life of the TCCUSF, based on estimates from the second quarter of 2013, now range from -$0.2 billion to $1.6 billion.


RSS print
News Now LiveWire
Also carved out from the @TheNCUA fixed-asst plan, CUs with less than $1 million in assets.
17 minutes ago
Fixed-asst rule relief would not apply to federally insured, state-chartered credit unions.
25 minutes ago
.@TheNCUA Ch Matz says intent is to allow CUs to manage fixed assets without NCUA "micromanaging" the purchases of fixed assets.
27 minutes ago
Under this fxd-asst proposal, @NCUA says to exceed 5% cap a CU would need a plan or program.
30 minutes ago
The new proposal was drafted, in part, due to comments received in 2013 on a technical corrections rule approved by NCUA on fxd-assts.
31 minutes ago