February 19, 2014

NCUSIF, proposal on voluntary liquidation up today

Feb. 20, 2014 – The NCUA Board's open meeting today is expected to be a brief one, with a quarterly report on the share insurance fund and a proposed rule on voluntary liquidations of federal credit unions the only items slated.

Agency staff last reported on the National Credit Union Share Insurance Fund in October. The fund stood at a level equal to 1.31 percent of insured shares Sept. 30. According to the audit report released earlier this week, the ratio was the same at year-end, and the fund's reserves for potential losses totaled $220.7 million, down from $412.5 million at year-end 2012.

Today's open meeting begins at 10 a.m. No closed meeting is scheduled.