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Interest Rates- US: H15 -0.27 2010-10-07 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.18 2010-10-07 FRB Federal funds effective rate
- US: H15 0.19 2010-10-07 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 0.79 2010-10-07 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.21 2010-10-07 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
- Trade (FTC)
- FTC Submits Comment to EPA on Proposed Rule Concerning Confidentiality of Greenhouse Gas Data; FTC Approves El Paso Energy Corp.’s Request to Modify Final Commission Order Regarding its Acquisition of Coastal CorporationThe Federal Trade Commission has submitted a comment to the Environmental Protection Agency in response to a proposed EPA rule concerning the confidentiality of data submitted under EPA’s Greenhouse Gas Reporting Rule. The Federal Trade Commission has approved a request by El Paso Energy Corporation that the FTC modify a final consent order issued in 2001. […]
- FTC Submits Comment to EPA on Proposed Rule Concerning Confidentiality of Greenhouse Gas Data; FTC Approves El Paso Energy Corp.’s Request to Modify Final Commission Order Regarding its Acquisition of Coastal Corporation
- Commerce News
- Notice: Inquiry on Copyright Policy, Creativity, and Innovation in the Internet EconomyThe Department of Commerce's Internet Policy Task Force is conducting a comprehensive review of the relationship between the availability and protection of online copyrighted works and innovation in the Internet economy. Comments are due on or before November 19, 2010. (225 KB PDF file) […]
- Notice: Inquiry on Copyright Policy, Creativity, and Innovation in the Internet Economy
- Small Business News
- Statement of SBA’s Chief Counsel for Advocacy Winslow Sargeant on expanded reporting requirements“I am surprised and disappointed by Senator Snowe’s portrayal of the Office of Advocacy’s actions regarding the expanded IRS Form 1099 reporting issue. The Office of Advocacy has been actively involved with the small business community and the Internal Revenue Service on this issue. We hosted a roundtable for small businesses and their representatives to hea […]
- Statement of SBA’s Chief Counsel for Advocacy Winslow Sargeant on expanded reporting requirements
- Monetary Policy
- Cost Estimates
- H.R. 4868, Housing Preservation and Tenant Protection Act of 2010Cost estimate for the bill as ordered reported by the House Committee on Financial Services on July 27, 2010 […]
- S. 987, International Protecting Girls by Preventing Child Marriage Act of 2010Cost estimate for the bill as ordered reported by the Senate Committee on Foreign Relations on September 21, 2010 […]
- H.R. 5663, Robert C. Byrd Miner Safety and Health Act of 2010Cost estimate for the bill as reported by the House Committee on Education and Labor on July 29, 2010 […]
- H.R. 4868, Housing Preservation and Tenant Protection Act of 2010
- Banking
- OCC, Woodforest National Bank Enter Agreement to Reimburse ConsumersThe Office of the Comptroller of the Currency has entered into a settlement with Woodforest National Bank, The Woodlands, Texas, that requires the bank to pay approximately $32 million in reimbursement to consumers who were harmed by the bank’s overdraft program. […]
- OCC, Woodforest National Bank Enter Agreement to Reimburse Consumers
Corporate Resolution Plan
October 4, 2010, Alexandria, Va. – National Credit Union Administration (NCUA) Board Member Michael E. Fryzel in an address to the New Jersey Credit Union League, emphasized the three key stages of the NCUA’s Corporate Resolution Plan.
“The Corporate Resolution Plan fulfills the three-stage process that NCUA has foreseen from the outset – the process of stabilization, resolution and reform. The credit union system has been successfully stabilized. There have been – and there will be – no disruptions in service to credit unions or consumers. This plan opens the way toward a future of stronger corporate credit unions, with the leaders of consumer credit unions empowered to decide the framework of the future system,” stated Fryzel.
Speaking before the annual gathering of over 860 credit union volunteers and professionals at New Jersey Credit Union League’s 76th Annual Meeting & Convention, in Atlantic City, NJ, Board Member Fryzel highlighted the NCUA’s aim to fulfill four specific principles.
“Throughout our decision-making, our actions have aimed to fulfill the four guiding principles that we set forth at the beginning of the corporate crisis: prevent any interruption in services to consumer credit unions; preserve public confidence in the credit union system; manage the situation to achieve the lowest long-term cost, and make an orderly transition to a new regulatory regime, based on the principle that consumer credit unions should determine the new contours of the realigned corporate system,” commented Board Member Fryzel.
Fryzel concluded his remarks by reiterating the priority of NCUA and his confidence in the Corporate Resolution plan.
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
“We have now turned the page from a challenging chapter in credit union history, to a new chapter that offers an even more promising future. Protecting the credit union system, and the 92 million members it serves, remains our highest priority. I feel confident that the new resolution plan will strengthen the system’s safeguards validating depositors’ confidence in a well-regulated system that puts the interests of consumers first.”
Board Member Fryzel’s NJCUL address is available online at: http://www.ncua.gov/GenInfo/Members/Fryzel/Speeches.aspx
Founded in 1934, the New Jersey Credit Union League is the official state trade association for credit unions and in New Jersey. Committed to the development of the credit union movement their mission includes a full range of services, programs, products and money-saving opportunities specifically designed to satisfy a credit union’s operational, financial, training, compliance and overall growth and development needs.
The National Credit Union Administration is the independent federal agency that regulates charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of 90 million account holders in all federal credit unions and the majority of state-chartered credit unions.