Regulatory Alerts2008-12-29
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Pennsylvania Department of Banking Pre-Approval for Credit Union System Investment Program Participation
The Pennsylvania Department of Banking pre-approves state-chartered credit unions to borrow from the National Credit Union Administration Central Liquidity Facility and invest proceeds in CU SIP Notes. This parity authority allows eligible institutions to bypass individual parity notices, provided they submit written notice of their participation to the Department. The directive aligns state-chartered credit union investment capabilities with those of federally-chartered entities under the Credit Union System Investment Program.
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