Items Tagged with 'corporates'

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Corporates will focus more on settlement and payment services; less on investments.

The National Credit Union Administration Board extended the comment period to Jan. 28, 2011, on the proposed corporate rule amendments issued at the agency's November 18 meeting.

The newly created institutions will be known as Members United Bridge Corporate FCU and Southwest Bridge Corporate FCU . The first two bridge corporates created by NCUA were U.S. Central Bridge Corporate FCU and Western Bridge Corporate FCU.

CUNA President/CEO Bill Cheney appeared live this morning on CNBC's Squawk Box to talk about credit unions and whether NCUA's plan for dealing with the corporates constitutes a credit union bailout.

Recapitalization and trust will be tough issues to address.

It's important to correct any misperceptions about the corporate credit union and legacy asset plans.

NCUA will establish 'bridge corporates' to ensure the important services by the five conserved corporates to natural person credit unions regarding payments and settlement aren't disrupted.

The agency assumes control of three more corporates, announces a plan to isolate impaired assets, and finalizes stronger regulations.

Corporates with small balance sheets and small capital requirements are most likely to succeed.

NCUA's proposal to change the corporate system structure will affect corporates' business model and its expectations of credit unions.