ALEXANDRIA, Va.-NCUA issued a ruling last week that government-guaranteed bonds issued by the U.S. Overseas Private Investment Corp., which help finance private-sector projects overseas, are permissible investments for FCUs. OPIC is an agency of the United States. Accordingly, obligations fully guaranteed by OPIC are permissible investments for FCUs, wrote General Counsel Michael McKenna in his legal opinion. The OPIC bonds, known as Certificates of Participation, carry a government guarantee.
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