This table displays the balances of the NGNs and Legacy Assets at different points in time. The balances change due to principal payments and losses on the Legacy Assets. The Legacy Assets are complex, the dollar amounts very large, and the economic situation challenging. For example, approximately 1.6 million individual mortgages (among other assets) support the Legacy Assets. The table will also provide information on guaranty payments made by NCUA, if any.
* Includes NGNs issued in 2011
- Excludes Legacy Assets that were not securitized.
- Overcollateralization = (Legacy Asset UPB - Cumulative Implied Writedowns - NGN Balance + Funds Held by Trustee) / NGN Balance.
- Numbers are rounded for presentation purposes. This may lead to totals that appear not to be the sum of their displayed components.
- The next update will occur by November 2014.