The addition would represent ‘sensitivity to market risk,’ and will require changes to NCUA systems.
As it nears the end of the rulemaking process for director compensation, Washington’s Department of Financial Institutions has begun accepting comments on the next order of business: regulating the frequency of board meetings.
What are permissible investments for my credit union?
The NCUA is expected to issue four final rules on Thursday, including changes to the asset threshold that defines small credit unions, an increased response time for accepting the LICU designation and other technical changes.
NWCUA representatives were on-hand along with credit union representatives from throughout the western states for the final NCUA Listening Session, led by NCUA Chairman Debbie Matz in Denver on Tuesday.
Standard and Poorâ€™s downgrade of the United States debt, along with dozens of U.S government related bonds issued by Fannie Mae and Freddie Mac warrants a review of credit unionsâ€™ investment policies.
U.S. Treasury Secretary Timothy Geithner accuses Standard & Poorâ€™s of showing â€œreally terrible judgmentâ€ for downgrading the nationâ€™s debt rating from AAA to AA+. Nineteen countries received better ratings from S & P.
Some Wall Street giants are preparing to cut their use of U.S. Treasuries in favor of cash on hand as a precaution.