February 27, 2009, Alexandria, Va. – The National Credit Union Administration issued new supervisory guidance for agency examination staff regarding the impact the Corporate Stabilization Program may have on credit union balance sheets. Supervisory Letter 09-01 instructs examination staff to differentiate between the impact of recent NCUA Board actions and operational activities by credit union management when evaluating credit union performance and risk profile. The letter also sets forth guidance allowing for examiner recognition of possible temporary reductions in return on assets (ROA) resulting from credit union participation in the Credit Union System Investment Program (CU SIP).

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