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Guaranteed Notes

October 14, 2010, Alexandria Va. – The National Credit Union Administration (NCUA) Guaranteed Notes (NGNs), backed by an unconditional NCUA guaranty for timely payment of principal and interest, will carry a 0 percent risk weight in accordance with clarification NCUA gained coordinating with the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and the Office of Thrift Supervision (federal banking agencies).
NCUA plans to sell NGNs as a key component of the recently announced Corporate System Resolution. NCUA has been working closely with the federal banking agencies to gain clarification on the appropriate risk weight required under regulatory capital risk weighting regulations.
The risk weight clarification letter is available online at

http://www.ncua.gov/Resources/CorporateCU/CSR/CSR-35.pdf.

NCUA is the independent federal agency that regulates, charters and supervises federal credit unions. With the backing of the full faith and credit of the U.S. government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of over 90 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.

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