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Interest Rates
- US: H15 0.18 2011-02-03 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.17 2011-02-03 FRB Federal funds effective rate
- US: H15 0.21 2011-02-03 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 1.44 2011-02-03 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.22 2011-02-03 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
Trade (FTC)
- FTC Approves Final Order Settling Charges That Dannon Made Deceptive Claims for Activia Yogurt and DanActive Dairy DrinkFollowing a public comment period, the Federal Trade Commission finalized the Order settling charges that The Dannon Company, Inc. exaggerated the health benefits of its Activia yogurt and DanActive dairy drink, two popular products that contain beneficial bacteria known as probiotics. […]
- FTC Approves Final Order Settling Charges That Dannon Made Deceptive Claims for Activia Yogurt and DanActive Dairy Drink
Commerce News
- NTIA Statement on Selection of 1755-1850 MHz Band for Detailed AnalysisNTIA announced that it has selected the next spectrum band for a detailed evaluation of whether it can be repurposed for commercial broadband use. The band selected, 1755-1850 MHz is a priority for analysis based on a variety of factors, including industry interest and its potential for commercial use within ten years. […]
- NTIA Statement on Selection of 1755-1850 MHz Band for Detailed Analysis
Small Business News
- Memorandum dated 01/31/11 - Heads of Executive Departments and AgenciesLetter Date: Tuesday, February 1, 2011 Landing page summary: On January 31, 2011, Dr. Winslow Sargeant, Chief Counsel for Advocacy, sent a Memorandum to the heads of all Federal agencies advising them of recent changes to the Regulatory Flexibility Act (RFA) and providing guidance on President Obama’s January 18 Executive Order 13563 on regulations and mem […]
- Memorandum dated 01/31/11 - Heads of Executive Departments and Agencies
Monetary Policy
Cost Estimates
- H.R. 398, A bill to amend the Immigration and Nationality Act to toll, during active-duty service abroad in the Armed Forces, the periods of time to file a petition and appear for an interview to remove the conditional basis for permanent resideCost estimate for the bill as ordered reported by the House Committee on the Judiciary on January 26, 2011 […]
- H.R. 386, Securing Aircraft Cockpits Against Lasers Act of 2011Cost estimate for the bill as ordered reported by the House Committee on the Judiciary on January 26, 2011 […]
- H.R. 347, Federal Restricted Buildings and Grounds Improvement Act of 2011Cost estimate for the bill as ordered reported by the House Committee on the Judiciary on January 26, 2011 […]
- H.R. 398, A bill to amend the Immigration and Nationality Act to toll, during active-duty service abroad in the Armed Forces, the periods of time to file a petition and appear for an interview to remove the conditional basis for permanent reside
Banking
- OCC Releases CRA Evaluations for 12 National BanksThe Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of December 15, 2010 through January 14, 2011. […]
- OCC Releases CRA Evaluations for 12 National Banks
Guaranteed Note Transaction
January 27, 2011, Alexandria, Va. –The National Credit Union Administration today announced that the NCUA Guaranteed Notes Trust 2011-R1 offering priced on Tuesday, January 18 and closed on Thursday, January 27. The transaction yielded approximately $1.5 billion in proceeds from sales of the Trust’s Senior Notes, and the coupon on the Senior Notes will be 45 basis points over LIBOR, indicating strong investor interest. Collateral for the transaction consisted of previously issued residential mortgage-backed securities.
The latest transaction brings the total number of NCUA Guaranteed Notes (or “NGN”) offerings to six. NCUA has now securitized approximately 65 percent of the legacy assets originally targeted for securitization in order to fund deposits assumed by the bridge corporate credit unions.
Securitization proceeds now total approximately $19.3 billion from all NGN transactions closed to date. The remaining NGN offerings are scheduled to be completed over the next few months.
“This latest successful offering demonstrates the value of the NCUA securitization program,” commented NCUA Chairman Debbie Matz. “Faced with a set of difficult choices and a very distressed market, NCUA developed this program as a manageable way to enable the credit union industry to pay for the losses incurred in the corporate system. Credit unions should be encouraged by the results thus far, and should be confident that NCUA is working to resolve the issues in as efficient and cost-effective manner as possible.”
NCUA NGNs will receive regular payments of principal and interest from cash flows of related underlying securities. Timely principal and interest payment on the NGNs is guaranteed by the NCUA, and that guaranty is backed by the full faith and credit of the United States.
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
Barclays Capital, New York, New York, serves as the sole structuring agent and bookrunner on these transactions. Purchase of NCUA NGNs is also available through a syndicate of co-managers and selling group members.
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.