NCUA Releases New Videos on Economic Trends and Emergency Liquidity
- An overview of the current state of the national economy;
- A review of where the economy is headed and its impact on the credit union industry; and
- A brief discussion about the changing institutional environment around emergency liquidity.
In the first two segments, NCUA Chief Economist John Worth reviews labor and housing market activity, examines how major economic indicators varies across states, and discusses how the credit union industry’s performance is tied closely to these trends.
The final segment features a brief discussion on NCUA’s recently proposed emergency liquidity rule between Worth and special guest J. Owen Cole, Jr., Director of Capital Markets in NCUA’s Office of Examination and Insurance.
More than 6,000 credit unions will lose access to the emergency liquidity provided by the Central Liquidity Facility (CLF) when U.S Central Bridge Corporate Credit Union closes in late October. During its July open meeting, the NCUA Board issued a targeted proposed rule—available at http://go.usa.gov/YaTF—that would require credit unions to plan for emergency liquidity. Credit unions can apply for CLF membership at http://go.usa.gov/YC9G.
The latest economic series video is available for free on NCUA’s official YouTube channel.