Tuesday, July 05, 2011 11:40:00 AM
NCUA will host a free Webinar on the recently adopted Voluntary Prepayment of Corporate Stabilization Fund Assessments program on Monday, July 11 at 2 p.m. ET. The program has the potential to decrease the currently projected 2011 Stabilization Fund assessment by 6.4 basis points, from 24.9 to 18.5 basis points of March 31 insured shares.
At the May 19 open board meeting, NCUA made available for public feedback a Voluntary Prepayment of Corporate Stabilization Fund Assessments proposal. The Board adopted a revised version of the plan on June 29. The Voluntary Prepayment of Corporate Stabilization Fund Assessments program will permit voluntary prepayments of $500 million in Corporate Stabilization Fund assessments. The plan responds to credit union stakeholder requests to explore a program, similar to a program the FDIC adopted in 2009, which would allow prepaid assessments for the Temporary Corporate Credit Union Stabilization Fund.
A resource page about this program is available here.
NCUA welcomes the credit union industry and all public stakeholders' participation in the Webinar to improve understanding about the Voluntary Prepayment of Corporate Stabilization Fund Assessments program. Credit unions have until July 29 to decide whether to participate in the initiative.
Individuals may register for the Webinar here. This Webinar will be archived on the NCUA Web site approximately two weeks after the event for those who cannot participate in the live session.