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 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.