Newsroom
September 25, 2017
CUs, NAFCU, NCUA meet today on asset securitization guidance
NAFCU-member credit unions and association and NCUA staff will meet today to discuss the progress on the agency's upcoming asset securitization guidance and to go over various credit union questions and concerns on the topic.
NAFCU-member credit union representatives from Navy Federal Credit Union, Pentagon Federal Credit Union and State Department Federal Credit Union will participate in today's meeting. NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt, Director of Regulatory Affairs Alexander Monterrubio, Senior Regulatory Affairs Counsel Michael Emancipator and Regulatory Affairs Counsel Ann Kossachev will attend.
Several members from the NCUA's Office of Examination and Insurance are also participating.
Regarding the NCUA's upcoming guidance, NAFCU-member credit union representatives and the association will reiterate that the industry needs various aggregation mechanisms in place so that credit unions of all sizes can participate in the securitization program. The group will also discuss permissible investments related to a securitization retained interest, borrowing limit applicability and permissible transaction structures.
The NCUA Board announced during its June open meeting that it had determined a federal credit union already has the authority to issue securities as part of its incidental powers under the Federal Credit Union Act. At that time, the agency issued a legal opinion letter on federal credit unions' authority to issue and sell securities and said it would create guidance on the topic in the coming months.
NAFCU-member credit union representatives from Navy Federal Credit Union, Pentagon Federal Credit Union and State Department Federal Credit Union will participate in today's meeting. NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt, Director of Regulatory Affairs Alexander Monterrubio, Senior Regulatory Affairs Counsel Michael Emancipator and Regulatory Affairs Counsel Ann Kossachev will attend.
Several members from the NCUA's Office of Examination and Insurance are also participating.
Regarding the NCUA's upcoming guidance, NAFCU-member credit union representatives and the association will reiterate that the industry needs various aggregation mechanisms in place so that credit unions of all sizes can participate in the securitization program. The group will also discuss permissible investments related to a securitization retained interest, borrowing limit applicability and permissible transaction structures.
The NCUA Board announced during its June open meeting that it had determined a federal credit union already has the authority to issue securities as part of its incidental powers under the Federal Credit Union Act. At that time, the agency issued a legal opinion letter on federal credit unions' authority to issue and sell securities and said it would create guidance on the topic in the coming months.
Share This
Related Resources
Add to Calendar 2024-04-24 14:00:00 2024-04-24 14:00:00 Optimize Liquidity, Maximize Loan Growth: The Network Lending Advantage About The Webinar Join us to learn more about network lending, a cooperative model allowing credit unions to optimize liquidity and achieve loan growth. Discover how credit unions can participate in loan pools with other institutions, allowing them to diversify portfolios, access loans with potentially lower risk and higher yields, and expand lending capacity without necessarily needing a surge in deposits. Delve into how credit unions can pool their resources, set common underwriting and pricing standards, and collectively originate, buy, and sell loans to optimize liquidity management. Hear from your peers about best practices, case studies, and practical strategies to harness the full potential of network lending and how it's helped their credit unions. Don't miss this valuable opportunity to learn how to strengthen your credit union's position in today’s competitive environment. Key Takeaways: How network lending differs from traditional lending The benefits of participating in loan pools with other credit unions How credit unions can set common underwriting and pricing standards and collectively originate, buy and sell loans to optimize liquidity management Why network lending is critical to loan growth Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Optimize Liquidity, Maximize Loan Growth: The Network Lending Advantage
preferred partner
LendKey
Webinar
Add to Calendar 2024-04-23 14:00:00 2024-04-23 14:00:00 Monitoring the Latest Litigation Risks Credit unions’ operations pose litigation risks, with more of these cases being filed as class action lawsuits. In this Monitoring the Latest Litigation Risks for Credit Unions webinar, you’ll review some of the specific kinds of lawsuits impacting credit unions and what potential claims could be on the horizon. You’ll also examine some options for mitigating risks. Key Takeaways Review the current lawsuit trends. Understand the potential claims risks Explore options for mitigating risks. Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 23, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCRMs will recieve 1.0 CEUs for participating in this webinar NCCOs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Monitoring the Latest Litigation Risks
Credits: NCCO, NCRM
Webinar
Resiliency In Your Incident Response Plan
Cybersecurity
preferred partner
DefenseStorm
Blog Post
The Bottom Line on Insurance Tracking and Collateral Protection
Strategy
preferred partner
Allied Solutions
Blog Post
Get daily updates.
Subscribe to NAFCU today.