August 10, 2011
August 11, 2011
The National Credit Union Administration (NCUA), along with other federal regulatory agencies, issued joint guidance on Federal Debt and the recent downgrade by Standard & Poor’s. For risk-based capital purposes, the risk weights for Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities will not change. The treatment of Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities under other federal banking agency regulations, including, for example, the Federal Reserve Board’s Regulation W, will also be unaffected.
The NCUA release Regulatory Alert 11-RA-04. This regulatory alert covers the subject of garnishment of accounts containing federal benefit payments.
Office of Foreign Assets Control
The OFAC SDN list was updated again. Last update August 10, 2011.
Questions? Contact a member of the Association’s Legislative Affairs team:
Jennifer Wagner, Director of Legislative Advocacy
Mark Minickiello, Vice President, Legislative Affairs
Stacy Augustine, Senior Vice President & General Counsel