Larry Fazio, NCUA Deputy Executive Director, to Brief Press on Proposal
ALEXANDRIA, Va. (May 19, 2011) – Reporters are invited to participate in a media roundtable about an NCUA-proposed voluntary prepaid Stabilization Fund assessments program at 10 a.m. EDT tomorrow, May 20.
The voluntary prepayment of assessments proposal by the National Credit Union Administration (NCUA) responds to stakeholder requests to explore a program of prepaid, or advanced, assessments for the Temporary Corporate Credit Union Stabilization Fund similar to a program adopted by the FDIC in 2009. The voluntary prepaid assessments proposal seeks to improve the liquidity of the Stabilization Fund and would permit interested parties to use excess funds to aid in managing corporate resolution cash flow needs over the next two years.
NCUA’s deputy executive director, Larry Fazio, will lead the briefing. Reporters will have an opportunity to ask questions after an initial presentation.
Media representatives wishing to participate in person must submit their names to Dan Moran (firstname.lastname@example.org) for security purposes by 9 a.m. Friday, May 20. Reporters will meet in the lobby at NCUA headquarters, 1775 Duke St., at 9:30 a.m.
Media wishing to participate via teleconference should dial (800) 516-9896, code: 1240278487. Due to difficulties with multiple people speaking during a conference call, questions from those participating in this method must be submitted in advance to David Small at email@example.com. Questions will also be taken via email live during the briefing to the same address, however all effort should be made to submit in advance to ensure your question is addressed during the event.
The NCUA Board was briefed on the proposal at its May 19 open board meeting. NCUA has also invited public input on the proposal. For background, a program outline can be found on NCUA’s website on this page.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than 101
million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.