ALEXANDRIA, Va.–The NCUA Board unanimously voted to issue a proposed rule that would allow credit unions to create investment vehicles that use foreign currency. The Advance Notice of Proposed Rulemaking is aimed at helping credit unions help members who live abroad, allowing them to make investments using foreign currency. As expected, the board also adopted amendments to parts 748 and 749 in a final rule on the Catastrophic Act Reporting and Records Preservation. Also on the docket was the mid-session budget review. Total budgeted operating costs for the 12-month period ending Dec. 31, 2007, are projected to decrease by $739,637 or 0.5%, which includes all increases, decreases, new requests, and revised estimates.
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