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NCUA Posts Three New Economic Videos

Updates Focus on Recent Economic Trends, Stabilization Fund Assessments, and U.S. Financial Stability Oversight Council’s Annual Report

ALEXANDRIA, Va. (Aug. 24, 2012) – The National Credit Union Administration (NCUA) released the August economic update on the agency’s official “YouTube” channel today. The latest economic installment features three segments, making it easier for viewers to get the information relevant to them.

In the opening segment, NCUA Chief Economist John Worth reviews current economic trends and their impact on the national economy. Topics covered include labor market developments, housing market improvements, and consumer confidence. The review also covers potential risks to the economy.
 
The second segment discusses the recently released 2012 Annual Report of the Financial Stability Oversight Committee (FSOC). In the segment, Worth highlights two key FSOC recommendations of particular interest to credit unions – the need for improved emergency liquidity planning and access, and how changes in interest rates can affect risk profiles. NCUA recently issued a proposed rule on emergency liquidity for federally insured credit unions, and a new rule on interest rate risk becomes effective in late September.
 
The final segment features an analysis of how anticipated future Stabilization Fund assessments for credit unions compare to anticipated Deposit Insurance Fund assessments by the Federal Deposit Insurance Corporation. The review shows that federally insured credit unions can expect to pay less in assessments than federally insured banks during the next decade.
 
The latest three economic update videos are available for free on NCUA’s official “YouTube” channel.


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 U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 96 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..

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National Credit Union Administration

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223 bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"