In Session 3 of “The Future of New Covenant Theology” Reid Ferguson discussed the Atonement.

This was a meeting where some ideas were exchanged among brothers who have very similar views concerning New Covenant Theology (NCT).  The views expressed by Reid in this presentation are not a point of agreement. Reid has developed his thinking on this in more depth since this meeting.

Go here for Reid’s more developed ideas.  Thinking Through Atonement :Addressing some terms and their possible universal  meaning.