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Interest Rates
- US: H15 0.21 2010-12-22 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.19 2010-12-22 FRB Federal funds effective rate
- US: H15 0.21 2010-12-22 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 1.27 2010-12-22 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 ND 2010-12-22 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
Trade (FTC)
- FTC Proposes Additional Time for Manufacturers to Adopt New Light Bulb LabelThe Federal Trade Commission is seeking public comments on whether to provide manufacturers approximately six additional months to incorporate new light bulb labels on their packaging, and whether to exempt certain bulbs that will soon be obsolete from those requirements. […]
- FTC Proposes Additional Time for Manufacturers to Adopt New Light Bulb Label
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
- Banking Study 2009Contents Introduction Research Summary Office of Advocacy read more […]
- Banking Study 2009
Monetary Policy
- FOMC statement: Federal Reserve, European Central Bank, Bank of Japan, Bank of Canada, Bank of England, and Swiss National Bank announce extension of temporary U.S. dollar liquidity swap facilities
- FOMC statement
- Federal Reserve releases detailed information about transactions conducted to stabilize markets during the recent financial crisis
Cost Estimates
- H.R. 6517, Omnibus Trade Act of 2010Pay-as-you-go estimate for the Senate amendment in the nature of a substitute to H.R. 6517 […]
- S. 3688, International Professional Exchange Act of 2010Cost estimate for the bill as ordered reported by the Senate Committee on Foreign Relations on December 14, 2010 […]
- H.R. 847, James Zadroga 9/11 Health and Compensation Act of 2010Cost estimate for H.R. 847 as adopted by the Senate on December 22, 2010 […]
- H.R. 6517, Omnibus Trade Act of 2010
Banking
- Agencies Release Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate Small InstitutionsThe federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. […]
- Agencies Release Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions
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.