Government regulations regarding liquidating assets

05-Apr-2020 21:58

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It will also reduce the possibility of significant errors and irregularities, as well as assist in their timely detection when they do occur.Internal controls typically: (1) Limit authorities, (2) safeguard access to and use of records, (3) separate and rotate duties, and (4) ensure both regular and unscheduled reviews, including testing. Residual Interests and Retained Interests The sponsor of an asset-backed security typically retains an interest in a securitization. \ 12 CFR 721.2.--------------------------------------------------------------------------- Under the first prong of the test, an activity must be convenient or useful in Page 36265 carrying out the mission or business of credit unions consistent with the Act. Finally, the activity must involve risks similar in nature to those already assumed as part of the business of credit unions.

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Finally, the sale of assets may reduce an FCU's regulatory costs by allowing it to optimize its capital management. Part 721--Incidental Powers The proposed rule adds a new provision to Part 721 of NCUA's regulations, which addresses the incidental powers of FCUs. Assessment of Federal Regulations and Policies on Families I. Federal Credit Union Authority To Securitize Assets For purposes of this rule, ``securitizing assets'' means acting as a sponsor of a securitization, i.e., organizing and initiating a securitization transaction by transferring financial assets to an entity that will issue obligations supported by such assets. Accordingly, NCUA has concluded that FCUs have the incidental power to securitize assets. The Board believes that there are a number of potential benefits of securitization.