Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA NGN sales net 13.1M in funds
ALEXANDRIA, Va. (12/1/10)--The National Credit Union Administration’s (NCUA) sale of NCUA Guaranteed Notes (NGNs) has netted $13.1 billion since October. The NCUA completed the second and third offerings in the series in November. The first of the two November offerings featured a Class A1 offering of $613.2 million in notes which paid a fixed-rate coupon of 1.6% yearly. A Class A2 offering of $1.361 billion in notes, paying 2.9%, and a Class A-PT offering of $1.786 billion in notes, paying 2.65%, were also put on the market last month. A second November transaction featured $2.62 billion in Senior I-A notes and $2.862 billion in Senior II-A notes that were backed by floating rate securities. The notes will pay 0.37% and 0.47% annually, respectively, and are subject to yearly maximum note interest rate caps of 7%. The NCUA settled its initial offering of notes in late October. The NGNs are comprised of $35 billion of distressed assets that were conserved from failed and conserved corporate credit unions, and are fully backed by the U.S. Government. The NCUA has amended its definition of low-risk assets to allow credit unions to invest in NGNs. For the full NCUA release, use the resource link.
Other Resources

RSS





print
News Now LiveWire
Consumer credit ticks up slightly in Jan http://t.co/nAmR7fyGLi
40 minutes ago
RT @cumagazine: Make a good impression during your #CUNAGAC Hill visits: 8 tips http://t.co/C4gtRbQG2s
1 hour ago
Taking a walkthrough before #CUNAGAC starts this weekend. http://t.co/k9hktHjm9b
2 hours ago
There will be lots of social media action at 2015 #CUNAGAC that starts in D.C. this Sunday. http://t.co/vyP4XbtFbk
2 hours ago
.@AACUC1 is part of a group of credit union organizations to introduce a new mentor program for small credit unions http://t.co/2vFE45ZnEW
2 hours ago