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Federal Deposit Insurance Corporation and National Credit Union Administration : assessments and actions / Joe M. Wallace, Keith R. Barnes., editors.
- Format:
- Book
- Series:
- Banking and banking developments.
- Financial institutions and services.
- Banking and banking developments
- Financial institutions and services
- Language:
- English
- Subjects (All):
- Federal Deposit Insurance Corporation.
- United States. National Credit Union Administration.
- United States.
- Deposit insurance--United States.
- Deposit insurance.
- Banks and banking--Government policy--United States.
- Banks and banking.
- Financial services industry--United States.
- Financial services industry.
- Physical Description:
- 1 online resource (181 pages) : illustrations.
- Place of Publication:
- New York : Nova Science Publishers, [2012]
- Summary:
- The Federal Deposit Insurance Corporation (FDIC) was established as an independent government corporation under the authority of the Banking Act of 1933. The FDIC is funded through insurance assessments collected from its member depository institutions and held in what is now known as the Deposit Insurance Fund (DIF). The proceeds in the DIF are used to pay depositors if member institutions fail. The credit union system has undergone a period of financial turmoil since the financial crisis began in 2007, resulting in an estimated $5 billion to $10 billion in losses to the 7,400 credit unions and the institutions that support them, known as corporate credit unions of corporates. This book provides an overview of the FDIC, recent status of DIF, and efforts to reduce the loss exposure and total risk to the fund. Also discussed is the recent status of the National Credit Union Administration (NCUA) with a focus on assessments and actions undertaken to support the funds during the recent period of financial distress and other initiatives to maintain liquidity.
- Notes:
- Includes bibliographical references and index.
- Description based on print version record.
- ISBN:
- 1-62257-292-0
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