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News Now

Washington
RegFlex takes a hit NGNs get a boost
ALEXANDRIA, Va. (10/22/10)--The National Credit Union Administration (NCUA) on Thursday voted to assign a 0% risk weight to the NCUA Guaranteed Notes that securitize the cash flows on the legacy assets held by the conserved corporates and approved a final version of RegFlex provisions. The NGNs are being sold in a series of auctions on the open market. NCUA Chairman Debbie Matz said that the NCUA issued the low risk asset rule to help a greater number of credit unions participate in the NGN investment opportunity.
Click to view larger image NCUA board members disagree on whether to move ahead with a tightening of RegFlex rules, with Chairman Debbie Matz (center) gesturing to make a point that the agency must be "proactive" with the changes. The rule was approved with board member Michael Fryzel (left) also voting in favor, while board member Gigi Hyland (right) voted against it. (CUNA Photo).


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