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Economic Indicators- Major Economic Indicators Latest NumbersConsumer Price Index (CPI): -0.1% in Apr 2010 News Release Historical Data Unemployment Rate: 9.7% in May 2010 News Release Historical Data Payroll Employment: +431,000(p) in May 2010 News Release Historical Data Average Hourly Earnings: +$0.07(p) in May 2010 News Release Historical Data Producer Price Index (PPI): -0.1%(p) in Apr 2010 News Release Historica […]
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- Are We There Yet? How to Drive Smarter This SummerMemorial Day weekend marks the start of road trip season, when families all across the nation pack up their cars, trucks and SUVs and take off for destinations across the country. Why do they drive? To save money on airfare, airport parking and the stress of air travel, instead packing multiple family members into one over- cramped vehicle. But with gas pric […]
- Are We There Yet? How to Drive Smarter This Summer
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- U.S. International Trade in Goods and Services, April 2010 and Annual RevisionThe U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total April exports of $148.8 billion and imports of $189.1 billion resulted in a goods and services deficit of $40.3 billion, up from $40.0 billion in March, revised. April exports were $1.0 billion less than March exports of $149.8 bill […]
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- Presentation on Defense Spending to the National Commission on Fiscal Responsibility and ReformEarlier this week, CBO’s Acting Assistant Director for National Security, Matthew Goldberg, spoke to the National Commission on Fiscal Responsibility and Reform on the topic of discretionary defense spending. Last month, representatives of CBO spoke to the commission on three different occasions to provide information on tax policy, discretionary spending, a […]
- Presentation on Defense Spending to the National Commission on Fiscal Responsibility and Reform
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- Budgetary Effects for Senate Amendment 4333, a Substitute for H.R. 4213As introduced on June 9, 2010 […]
- H.R. 4173, Restoring American Financial Stability Act of 2010Cost estimate for the act as passed by the Senate on May 20, 2010. […]
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- Budgetary Effects for Senate Amendment 4333, a Substitute for H.R. 4213
Corporate Credit Unions
April 9, 2010, Alexandria, Va. – Responding to questions after speaking to 800 officials
at the Texas Credit Union League Annual Meeting in Grapevine, Texas, National Credit
Union Administration Chairman Debbie Matz provided further insights into the future of
the corporate credit union system.
Matz predicted that some changes will result from NCUA’s rule to strengthen corporate
credit unions’ regulation, while other changes will result from natural market forces.
“The capital thresholds in NCUA’s proposed rule will be attainable for some corporates,”
Matz explained. “Other corporates will need to find a new business model.”
Matz acknowledged that some corporates have already begun discussing mergers. “We
will eventually see a shakeout in the corporate system,” Matz observed. “There will be
fewer corporates, but stronger corporates.”
In the meantime, Matz emphasized measures that NCUA has taken to stabilize the
corporate system. She reminded that NCUA continues to guarantee all shares in
corporates above the traditional federal insurance limit. “This ensures that your credit
unions’ investments in corporates are backed by the full faith and credit of the United
States government,” Matz affirmed.
Matz set a goal to finalize the corporate rule by this summer, after announcing a plan to
dispose of corporates’ “legacy assets.”
National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
www.ncua.gov
Media Contact: NCUA Office of
Public & Congressional Affairs
Phone: (703) 518-6330
Email: pacamail@ncua.gov
“Chairman Debbie Matz with Texas Credit Union League President Dick Ensweiler.”
For the long term, Matz concluded, “We’re confident that the new safeguards, when
refined and implemented, will provide a framework for safety and soundness that protects
America’s 90 million credit union members.”
Full text of Matz’s speech is posted at
http://www.ncua.gov/GenInfo/Members/Matz/Speeches.aspx
NCUA is the independent federal agency that regulates, charters and supervises federal
credit unions. With the backing of the full faith and credit of the U.S. government, NCUA
operates and manages the National Credit Union Share Insurance Fund, insuring the
deposits of over 90 million account holders in all federal credit unions and the
overwhelming majority of state-chartered credit unions.