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NEW DERIVATIVE HEDGING SERVICE
updated 04/24/14 10:06 AM
Announded by Catalyst Corporate
Catalyst Strategic Solutions, a wholly-owned credit union service organization (CUSO) of Catalyst Corporate FCU, has launched a Derivative Hedging Service to help credit unions mitigate interest-rate risk.

In January, the National Credit Union Administration (NCUA) approved a rule authorizing certain federal credit unions to purchase derivative instruments for risk management purposes. Parameters for credit unions purchasing derivatives under the new rule include assets of $250 million or more, a CAMEL rating of 1, 2, or 3, and a management rating of 1 or 2.

Among the services to be provided:

  • In-depth training and education for start-to-finish derivative programs
  • Assistance with NCUA derivative application
  • Development of derivative policies and procedures
  • Interest rate risk modeling
  • Legal review of all derivative documentation
  • Counterparty credit analysis
  • Derivative hedging strategies, trade execution and transaction management
  • Daily monitoring of derivative pricing and collateral management
  • Monthly mark-to-market reports

“While a small number of credit unions have had access to derivative instruments for the last decade, using them to hedge risk is unchartered territory for most,” said Bruce Fox, Catalyst Corporate’s EVP/chief investment oficer, and Catalyst Strategic Solutions principal. “Catalyst Strategic Solutions is uniquely positioned to help credit unions implement a successful hedging program for a variety of reasons—one of which is a track record of developing credit union balance sheet risk management strategies for more than 20 years.”

Click here for more information about Catalyst’s Derivative Hedging Services.

 
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MCWATTERS DISSENTS ON BUDGET VOTE updated 11/22/14 06:37 AM
Also, Revised RBC Rule Coming
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters was the only one to vote “no” on the board’s 2015 proposed budget, which will increase 4.2 percent over last year. The vote was 2 to 1.

ANNUAL FED WEBINAR ON REGS, GUIDANCE updated 11/21/14 10:32 AM
Also, FinCEN Issues Advisories
Senior staff at the Federal Reserve will host an annual webinar to provide a recap of recent regulatory changes and highlight various inter-agency guidance. The webinar will also discuss current hot topics in the financial services industry and give a glimpse of future regulatory changes.

NEW EMPLOYMENT LAWS FOR 2015 updated 11/21/14 04:33 PM
Also, TIPs Bulletin Posted
The California Chamber of Commerce has released a list of new employment laws scheduled to take effect in 2015 or earlier that will have an impact on businesses in California.

DIANA DYKSTRA RECEIVES 'EAGLE AWARD' updated 11/20/14 10:41 AM
Outstanding Record of Achievement
Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, was presented with the American Association of Credit Union Leagues’ highest honor—the Eagle Award—this week during AACUL’s winter meeting in Hawaii.