NCUA Plans New Investment Option ForCUs

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ALEXANDRIA, Va. - (07/21/06) --The NCUA Board proposed a newinvestment option for credit unions, mortgage note repurchaseagreements. The proposed rule, issued for a 60-day comment period,would allow federal credit unions to invest in short-termrepurchase agreements, collateralized by mortgage notes, evenincluding mortgages of non-members. The maximum term of themortgage notes would be 30 days.

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