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Economic Indicators- Major Economic Indicators Latest NumbersConsumer Price Index (CPI): +0.2% in Oct 2010 News Release Historical Data Unemployment Rate: 9.6% in Oct 2010 News Release Historical Data Payroll Employment: +151,000(p) in Oct 2010 News Release Historical Data Average Hourly Earnings: +$0.05(p) in Oct 2010 News Release Historical Data Producer Price Index (PPI): +0.4%(p) in Oct 2010 News Release Historica […]
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- FTC Issues Final Rule to Protect Struggling Homeowners from Mortgage Relief ScamsHomeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable. Read more... […]
- FTC Issues Final Rule to Protect Struggling Homeowners from Mortgage Relief Scams
- Economic Analysis
- Personal Income and Outlays, October 2010Personal income increased $57.6 billion, or 0.5 percent, and disposable personal income (DPI) increased $48.3 billion, or 0.4 percent, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $44.0 billion, or 0.4 percent. In September, personal income decreased $2.8 billion, or less than 0.1 percent, DPI de […]
- Personal Income and Outlays, October 2010
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- Report on the Troubled Asset Relief Program—November 2010Today CBO released the fourth of its statutory reports on transactions undertaken as part of the Troubled Asset Relief Program (TARP)—the program established in October 2008 to enable the Department of the Treasury to promote stability in financial markets through the purchase and guarantee of “troubled assets.” The report discusses CBO’s estimate of the cos […]
- Report on the Troubled Asset Relief Program—November 2010
- Economic Outlook
- S. 3981, Unemployment Insurance Stabilization Act of 2010Pay-as-you-go estimate for the bill as introduced on November 29, 2010 […]
- H.R. 6398, A bill to require the Federal Deposit Insurance Corporation to fully insure Interest on Lawyers Trust AccountsPay-as-you-go estimate for the bill, as amended on November 30, 2010 […]
- H.R. 6184, A bill to amend the Water Resources Development Act of 2000 to extend and modify the program allowing the Secretary of the Army to accept and expend funds contributed by nonfederal public entities to expedite the evaluation of permitsPay-as-you-go estimate for the bill as transmitted to CBO with an amendment on November 9, 2010 […]
- Report on the Troubled Asset Relief Program -- November 2010[…]
- S. 510, FDA Food Safety Modernization Act (Senate Amendment 4702)Cost estimate for Senate Amendment 4702 to S. 510 […]
- S. 3981, Unemployment Insurance Stabilization Act of 2010
Guaranteed Notes Transactions
November 30, 2010, Alexandria, Va. – The National Credit Union Administration today released information on its two November offers of NCUA Guaranteed Notes. The two November transactions bring the total number of offerings to three completed since October. The offerings have met with strong investor demand and have raised proceeds totaling $13.1 billion to provide funding of deposits assumed by the bridge corporate credit unions. Below are details of the two November transactions.
The first transaction completed in November featured three classes of Senior Notes, issued in a single series, backed by commercial mortgage-backed securities.
Class A1 – $613.2 million notes are backed by fixed rate securities and will pay a fixed-rate coupon of 1.60% per annum.
Class A2 – $1.361 billion notes are backed by fixed rate securities and will pay a fixed-rate coupon of 2.90% per annum.
Class A-PT – $1.786 billion notes are backed by fixed rate securities and will pay a fixed-rate coupon of 2.65% per annum.
The second transaction completed in November featured two series of Senior Notes backed by residential mortgage-backed securities.
Senior I-A – $2.62 billion notes are backed by floating rate securities and will pay a floating-rate coupon of one-month LIBOR plus 0.37% per annum, subject to a maximum note interest rate cap equal to 7.00% per annum.
Senior II-A – $2.862 billion notes are backed by floating rate securities and will pay a floating-rate coupon of one-month LIBOR plus 0.47% per annum, subject to a maximum note interest rate cap equal to 7.00% per annum.
The Senior Notes will receive monthly payments of principal and interest from cash flows of the related underlying securities. The timely payment of principal and interest due on the
National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
www.ncua.gov
Media Contact: NCUA Office of Public & Congressional Affairs
Phone: (703) 518-6330
Email: pacamail@ncua.gov
notes is guaranteed by the NCUA, and that guaranty is backed by the full faith and credit of the United States.
Barclays Capital, New York, New York served as the sole structuring agent and bookrunner on both transactions. Purchase of the NGNs was also made available through a syndicate of co-managers and selling group members.
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.