NCUA today confirmed that it has sought bids on $800 millionworth of securities backed by U.S. Central FCU and WesternCorporate FCU investments.
|Director of Public and Congressional Affairs John McKechnieconfirmed the report, which appeared on the Bloomberg wiretoday. The report states the bonds are backed by commercialmortgage-backed securities owned by the two seized creditunions.
|More information regarding this issuance and plans for othercorporate legacy assets will be made public tomorrow, McKechniesaid.
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