Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW NCUAs TCCUSF receives clean 2011 audit
ALEXANDRIA, Va. (UPDATED: 12:00 P.M. ET, 6/22/12)--The National Credit Union Administration's (NCUA) Temporary Corporate Credit Union Stabilization Fund (TCCUSF) has again received a clean audit, the agency reported today.

The audit, which was performed by KPMG, LLP, covered the TCCUSF's 2011 financial statements. NCUA Chairman Debbie Matz said the clean audit was "very welcome news."

The NCUA in a release noted it has improved its own internal controls, and has continued to strengthen the systems needed to handle the TCCUSF's many complex transactions, including those related to the NCUA Guaranteed Notes.

These improvements allowed the auditors to complete their examination of the TCCUSF statements six months earlier than they were completed in 2011, and Matz said the 2012 TCCUSF audits should be released in a similarly timely fashion next year.

Matz said agency staff is currently updating loss projections for the corporate credit union system resolution. The projections will be issued by the end of this month, she added.

For the NCUA release, use the resource link.
Other Resources

RSS





print
News Now LiveWire
16.9% of U.S. homeowners underwater, down from peak 31.4% in 2012, reports @zillow http://t.co/EbILqY1HMz
15 hours ago
Breaking at #NewsNow: President Obama signs IOLTA bill into law. http://t.co/5N741Bygmn
16 hours ago
.@edmunds says the week between Christmas and New Year's is the busiest car shopping time of the year.
17 hours ago
.@CFPB sues Sprint for cramming 3rd-party service fees onto consumers' bills http://t.co/mhlMWqLKku
18 hours ago
#HomeDepot #databreach lawsuits consolidated in Georgia http://t.co/A4bei5z0mV
18 hours ago