PLANO, Texas – Catalyst Corporate FCU has asked NCUA, which is poised to lift its ban on financial derivatives, to let it deal interest rate swaps, caps, and options to credit unions through its investment subsidiary.

The $3 billion corporate, one of four surviving national corporates, told NCUA last week it plans to apply for authority both to use financial derivatives itself and to provide derivatives services for its credit union members through its wholly owned CUSO, Catalyst Strategic Solutions LLC.

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