Accounting Bulletin, New Corporate Stabilization FAQs Issued
April 2, 2009, Alexandria, Va. – The National Credit Union Administration (NCUA) today issued new Frequently Asked Questions Regarding Corporate Stabilization (FAQs) and Accounting Bulletin No. 09-2 to provide the latest information pertaining to proposed legislative solutions to corporate stabilization efforts and related financial reporting implications.
The new corporate stabilization FAQs details current proposed legislation affecting National Credit Union Share Insurance Fund assessments, accounting procedures, and additional corporate stabilization details.
NCUA Accounting Bulletin No. 09-2 details reporting guidance related to actions taken by the NCUA Board March 20, 2009.
The accounting bulletin and FAQs are available online at http://www.ncua.gov/CorporateStabilizationProgram.html.
The National Credit Union Administration charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the accounts of nearly 89 million account holders in all federal credit unions and the majority of state-chartered credit unions. NCUA is funded by credit unions, not federal tax dollars.
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