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GGD-82-26 1 (1982-02-19)

handle is hein.gao/gaobabcxa0001 and id is 1 raw text is: 


BY TFHE U,S, GENERAL ACCOUNTING OFFI(t



Report To The Chairman Of The

National Credit Union Administration





The National Credit Union Administration

Should Revise Liquidation Procedures

To Reduce The Net Cost Of

Credit Union Liquidation


The number of liquidations that must be per-
formed by NCUA has increased sharply in re-
cent years. Reducing the net cost of liquid-
ations is clearly one policy the NCUA Board
can pursue to enable the share insurance
fund to better cope with the strains that may
lie ahead.

Although NCUA has made recent efforts to
reduce the cost of liquidations, GAO believes
more needs to be done. NCUA could reduce
the net costs of liquidation by maximizing the
value of the loan portfolio and reducing
expenses. In addition, GAO believes more
active NCUA supervision is needed to insure
compliance with policies intended to reduce
the net cost of liquidations.









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                                                              GGD-82-26
   1q'COU $'                                            FEBRUARY 19,1982

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