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MONTH-END CERTIFICATE VALUATIONS

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NCUA 703.9 requires additional fair value reporting (at least quarterly) by CUs whose total amount of "high risk" securities exceed net capital. "High risk" securities are defined as all securities with a maturity exceeding three years, securities whose coupon formulas are related to more than one index, or are inversely related to, or multiples of an index, and/or any security with embedded options (most common are mortgage-backed securities and callable securities).

While the special share certificates are not marketable securities, 703.7 requires the listing of all shares and deposits (at least quarterly) that have the same features. Many credit unions are incorporating fair values of these shares and deposits in their reports where values are attainable.

July 2010
Month-End Valuations for all outstanding special share certificates

Certificate Issue
Date		 Maturity
Date		 Next
Call Date		 Fair
Value		 +300
Value		 -300
Value
CSC 08-34 10/15/2008 10/15/2013 10/15/2010 100.84 97.81 100.86
CSC 09-24 12/15/2009 12/15/2011 12/15/2010 100.12 96.27 100.19
CSC 09-26 1/15/2010 1/13/2012 1/18/2011 100.12 96.04 100.24
CSC 10-04 3/15/2010 3/14/2012 9/15/2010 100.05 95.60 100.07
CSC 10-05 3/25/2010 3/23/2012 9/25/2010 100.06 95.51 100.08
CSC 10-08 5/17/2010 5/15/2012 5/16/2011 100.24 95.29 100.60
CSC 10-10 6/15/2010 6/15/2012 6/15/2011 99.98 94.72 100.05
CSC 10-11 6/25/2010 6/25/2012 9/25/2010 99.89 94.52 100.07
CSC 10-12 7/15/2010 7/13/2012 7/15/2011 99.89 99.40 100.46

 
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