Most Requested
bank banking business corporate credit credit cards credit union credit unions debt Earned Income Tax Credit (EITC) economy employment farming federal income taxes Federal Reserve finance free tax help Government identity theft income Internal Revenue Service international IRS issues jobs lending local business marketing money mortgage mortgages problems Processing Amended Returns real estate resume rules sales savings skills small business speaking tax credit Taxes unemployment work-
Categories
Archives
Home | Contact Us | News Archives | Resources
Interest Rates
- US: H15 0.28 2010-12-16 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.20 2010-12-16 FRB Federal funds effective rate
- US: H15 0.21 2010-12-16 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 1.42 2010-12-16 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.21 2010-12-16 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
Trade (FTC)
- FTC Staff Submits Comments to Federal Reserve on Making Fair Lending Law Stronger; FTC Announces Increase in Maximum Charge for Extra Copies of Credit ReportsThe Federal Trade Commission staff has submitted comments to the Federal Reserve Board recommending ways the Board could strengthen the rules under the Home Mortgage Disclosure Act, which requires some mortgage lenders to collect and report loan data that the government uses to analyze whether they are complying with fair lending laws. The Federal Trade Comm […]
- FTC Staff Submits Comments to Federal Reserve on Making Fair Lending Law Stronger; FTC Announces Increase in Maximum Charge for Extra Copies of Credit Reports
Commerce News
- Federal Register Notice: Information Privacy and Innovation in the Internet EconomyThe Department of Commerce’s Internet Policy Task Force seeks comment on its report entitled “Commercial Data Privacy and Innovation in the Internet Economy: A Dynamic Policy Framework.” Comments are due on or before January 28, 2011. (317 KB PDF file) […]
- Federal Register Notice: Information Privacy and Innovation in the Internet Economy
Small Business News
- The December Small Business AdvocateThe December 2010 edition of The Small Business Advocate features The Small Business Broadband Survey, coverage of regulatory issues and the Small Business Jobs Act, and the appointment of new staff, including Region III Advocate Ngozi Bell. […]
- The December Small Business Advocate
Monetary Policy
Cost Estimates
- H.R. 5116, America COMPETES Reauthorization Act of 2010Pay-as-you-go estimate for the bill as transmitted by the Senate Committee on Commerce, Science, and Transportation on December 17, 2010, with an Amendment […]
- S. 482, Senate Campaign Disclosure Parity ActPay-as-you-go estimate for the bill as provided to CBO by the Senate Committee on the Budget on December 17, 2010 […]
- H.R. 5026, An act to amend the Federal Power Act to protect the bulk-power system and electric infrastructure critical to the defense of the United States against cybersecurity and other threats and vulnerabilitiesPay-as-you-go estimate for the bill as ordered reported by the Senate Committee on Energy and Natural Resources on August 5, 2010, with an amendment transmitted on December 16, 2010 […]
- H.R. 5116, America COMPETES Reauthorization Act of 2010
Banking
- OCC Appoints Receiver for Community National Bank of Lino LakesThe Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for Community National Bank of Lino Lakes, Lino Lakes, Minnesota. […]
- OCC Appoints Receiver for Community National Bank of Lino Lakes
Guaranteed Note Transaction
December 13, 2010, Alexandria, Va. – A National Credit Union Administration Guaranteed Note (NGN) student loan-based offering closed last Friday, with the transaction yielding $1.16 billion. The coupon will pay 35 basis points over LIBOR, an indication of strong investor interest.
This offering concludes NGN offerings for 2010. NCUA has now completed 60 percent of the securitization designed to fund deposits assumed by the bridge corporate credit unions.
Total proceeds from the 2010 securitizations now stand at over $17.75 billion. NCUA plans to resume NGN offerings in the first quarter of 2011.
“NCUA’s ongoing efforts to resolve the corporate situation have yielded very positive results. The financial success of the securitization is not only enabling NCUA to manage the disposition of troubled corporate credit unions, it is also allowing the credit union industry to pay for the losses without diminishing service to consumers,” noted NCUA Chairman Debbie Matz. “I am encouraged by the results in 2010, and by the promise that the future holds for the credit union industry as it emerges from the market dislocations.”
The NCUA NGNs will receive monthly payments of principal and interest from cash flows of related underlying securities, which are passed on to investors. Timely payment of principal and interest due to on the notes is guaranteed by NCUA, and that guaranty is backed by the full faith and credit of the United States.
Barclays Capital, New York, New York serves as the sole structuring agent and bookrunner on this transaction. Purchase of NCUA NGNs can also be accomplished through a syndicate of co-managers and selling group members.
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
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.