US Central Federal Credit Union Capital Injection
Date:
January 28, 2009
Policy Area:
Financial Sector Policy
Economic Target:
Financial Institutions
Action Type:
Other
Maximum Amount:
$1.00 billion
Amount Spent:
* $1.00 billion The National Credit Union Administration provided the U.S. Central Federal Credit Union with a $1 billion capital note to help cover anticipated losses on mortgage and asset-backed securities. Funds for the note were obtained from the agency's National Credit Union Share Insurance Fund.
Notes:
Deficit impact currently unknown, although regulators have stated they will increase insurance fees to cover the note's cost.