SAN ANTONIO - A National Credit Union Administration official defended the agency's requirement that institutions divest collateralized mortgage obligations that fail a stress test.

The policy protects credit unions in the long run, NCUA accounting officer Karen Kelbly told the National Association of Federal Credit Unions chief executive officers conference here last week.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.