NCUA Board Meeting Summary

Here is our summary of the NCUA Board meeting today.  The key items were the TCCUSF assessment, set at 9.5 basis points of insured shares, and the continuation of the 18% usury ceiling for federal credit unions.  The Board reiterated that there will be no NCUSIF premium this year.  In addition, the Board reduced the agency’s budget for the remainder of this year by $ 2 million.  The Board also issued two proposals for comments.  One of them would allow NCUA to determine when a state chartered credit union is in “troubled condition” and the other would address liquidity requirements for natural person credit unions.  Our initial read is that both of these proposals are unnecessary and would expand the agency’s authority.  CUNA will be reviewing these proposals in detail with our Examination and Supervision Subcommittee and our System Liquidity Task Force, reporting to you on our analyses, and weighing in with the agency.

To read the full report, click here. 

Best regards,
Bill
 
Bill Cheney
President/CEO
Credit Union National Association