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To view NCUA's corporate stablization actions resource page, click here.
Nov. 24 - NCUA Extends Temporary Corporate Credit Union Share Guarantee Program
Sept. 24 - NCUA Approves First Premium Assessment to Mitigate Losses, Economic Impact
June 4 - NCUA Releases Redacted Version of PIMCO Report in Response to FOIA Requests
May 22 - NCUA Letter to Credit Unions: NO.: 09-CU-10: Matters Related to “Paid-in Capital” and “Membership Capital” of Corporate Credit Unions
May 21 - President Signs Bill Into Law Extending Credit Union Insurance Fund Recapitalization Period
May 13 - Congressman Kanjorski Introduces Credit Union Share Insurance Stabilization Act - May 13
May 6 - Senate Approves Extension of Credit Union Insurance Increase, Provisions to Address NCUSIF Recapitalization - May 6
May 1 - NCUA Reports OTTI Charges for WesCorp and US Central - May 1, 2009
April 27- NCUA Board Takes Precautionary Action in Preparation for Corporate Credit Union Losses
April 21 - Corporate Credit Union Share Guarantee Program Revised, Extended
April 17 - Summary of Consultancy Report for NCUA on Corporate Credit Union Portfolio Analysis
April 10 - Distressed Securities Held by Corporate Credit Unions - Summary of NCUA Analysis
NCUA Guidance to Federal Examiners on Supervision Treatment of Accounting Bulletin 09-2 - Guidance Link Here - Bulletin Here
April 3 - NASCUS Comments on the NCUA ANPR, Part 704, Corporates
April 1 -NCUA Accounting Bulletin 09-02
NCUA Share Insurance Fund Invoice/Refund Cycle March/April 2009 Frequently Asked Questions and Answers - March/April 2009
March 26- NCUA Proposes Legislative Fix to Absorb Corporate Credit Union Losses
March 23 - NCUA Releases FAQs on PIMCO Credit Analysis and Recent Conservatorship Actions
March 23 - Media Statement from NASCUS President and CEO Mary Martha Fortney
March 20 - NCUA Conserves U.S. Central and WesCorp After Evaluating PIMCO Analysis
March 20 - NCUA Letter to Credit Unions - NASCUS Summary of Letter Here
NCUA Board Actions on January 28, 2009
• Guarantee uninsured shares at all corporate credit unions through February 2009, and establish a voluntary guarantee program for uninsured shares of all corporate credit union through December 31, 2010;
• Issue a $1 billion capital note to U.S. Central Corporate Federal Credit Union (U.S. Central);
• Issue an Advance Notice of Public Rulemaking (ANPR) on restructuring the corporate credit union system; and
• Declare a premium assessment to restore the National Credit Union Share Insurance Fund (NCUSIF) equity ratio to 1.30 percent, which will be collected in 2009.
Other Links
•NCUA Conserves U.S. Central and WesCorp After Evaluating PIMCO Analysis
•NCUA Releases Summary of PricewaterhouseCoopers Corporate CU Report Summary•NCUA Tweaks Call Report for Corporate Stabilization Expense
•NCUA Announces Corporates in Voluntary Guarantee Program
•NCUA Issues Guidance to Examiners for Mitigating Impact of Corporate Stabilization Plan on Credit Unions
•View a NASCUS summary of the corporates ANPR (Member log-in required)
•NCUA Letter to Credit Unions
•FAQ from NCUA on corporate actions
•NCUA Accounting Bulletin - February 2009
•NCUA Chairman Discusses Corporate Stabilization Actions
•Statement from NCUA Board member Gigi Hyland
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