Credit unions to take hit from asset valuations

Credit unions are bracing themselves for a dramatic rebalancing of their books this year as the Financial Regulator pushes the community lenders to value all their assets, including property, at market levels, according to credit union sources.

24th September, 2011

Credit unions are bracing themselves for a dramatic rebalancing of their books this year as the Financial Regulator pushes the community lenders to value all their assets, including property, at market levels, according to credit union sources.

The stricter valuation criteria are expected to have a serious negative effect on the balance sheets of many credit unions,which invested heavily in property during the boom, as their boards incorporate price drops of up to 50p er...

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