Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Fryzel NCUA vigilant on CU health
ALEXANDRIA, Va. (9/30/08)—National Credit Union Administration (NCUA) Chairman Michael Fryzel said he was “extremely pleased” by recent congressional action to increase the agency’s Central Liquidity Facility’s lending limit. Fryzel said the NCUA’s pursuit of authority to lend to the CLF’s full statutory level—currently at around $41 billion—gives the agency another tool that could assist credit unions withstand the market turbulence gripping the country. "Overall, the actions of Congress this week will play a major role in determining the health of the financial institutions for decades to come," Fryzel said, referring to effortst to approve the Emergency Economic Stabilization Act. "The magnitude of the asset repurchasing legislation being considered, regardless of the final product, will impact all financial institutions, including credit unions," the chairman noted, He added: “Credit unions comprise a significant component of the financial system. My goal is to make certain that they remain safe, sound and well-positioned to deal with the uncertainties presented by problems in the broader markets. “Credit union members rightfully depend on NCUA's strong and vigilant oversight, and I am confident that, working closely with Congress, we will find solutions to put in place the kinds of safeguards that achieve that goal."


RSS print
News Now LiveWire
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
7 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
9 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
9 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
11 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
11 hours ago