The NCUA's plan to guarantee deposits at corporate credit unions-which could result in a premium levied on natural person credit unions-was one of the recommendations made by a consulting firm hired by the agency last year.
The NCUA today released a summary of a report by PriceWaterhouseCoopers, which also recommended using the Central Liquidity Facility to infuse liquidity in corporate credit unions, an action that would require congressional approval. The NCUA, CUNA and NAFCU have been discussing how to make such a request to lawmakers.
The NCUA hired the firm last November and it submitted its report on Jan. 16. Less than two weeks later, the NCUA issued its Corporate Credit Union Stabilization Plan, which included the deposit guarantee and also included a $1 billion capital injection in U.S. Central.
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