Links in “Agencies”

Chip Filson of Callahan and Associates says that NCUA’s focus on static programming to pass shock tests and the agency’s belief that IRR management is simply a matter of proper balance sheet programming is wrong. In the real world, credit union managers make daily decisions about pricing for loans and shares, investment terms, and which products to market to protect their margins. [9/4/14]

Federal bank regulators are required to review their regulations at least once every 10 years. CUNA recommends that NCUA establish a regulatory review working group of publicly-elected credit union officials and NCUA staff that could make annual recommendations to improve, reduce, or eliminate regulations, reporting requirements, and other directives. [9/4/14]

NACHA announced Wednesday the formation of a board advisory group. The group will consist of representatives from ACH network participants of a balanced cross-section of different types and sizes of businesses. The intention of the advisory group is to provide a more formal means for non-financial institutions and users of the ACH network to communicate with the NACHA Board of Directors. [9/4/14]

Responding to the wake-up call provided by the 2008 financial crisis, the OCC has published final guidelines regarding the governance and risk management of large financial institutions. The guidelines focus on establishing and implementing written policy related to risk governance, and also provide minimum standards for institutions' boards of directors regarding overseeing such written policies. Implementation is based on the pending publication date in the Federal Register and will be dependent upon the size of the financial institution. [9/3/14]

NAFCU has submitted a comment letter to NCUA citing its “dirty dozen” list of regulatory requirements that should be eliminated or amended. In particular, NAFCU states that the Member Business Lending Rule is far too restrictive and burdensome and that certain bylaw provisions need to be revised to reflect modern practices. [9/3/14]

NCUA will be conducting a webinar entitled "Merger Best Practices” on Wednesday, September 17^th at 2:00 pm EST. A panel of NCUA experts will discuss the characteristics of a credit union heading towards a merger, knowing when to merge, merger structure and negotiations, and how to achieve the maximum benefits for merging the credit union and its staff. [9/3/14]

The second quarter growth observed for federally insured credit unions marks the highest year-over-year loan growth since 2006. NCUA Board Chairman Debbie Matz attributed the growth to a stronger economy and a stronger credit union system, saying the two go "hand in hand." Despite the observed growth in lending, interest-rate risk continues to be a concern and priority for NCUA. [9/3/14]

The SEC has adopted new rules related to NRSROs (nationally recognized statistical rating organizations) originally proposed in May 2011. Among other things, the rules will require issuers and underwriters of asset-backed securities that are rated by NRSROs to provide a form on EDGAR to describe any third-party due diligence report obtained. The rules contain broad definitions that will be implemented nine months after being published in the Federal Register. [9/3/14]

The FDIC has released 38 enforcement actions taken in the month of July and one in June. [9/2/14]

NCUA is hosting a webinar focusing on best practices surrounding merging. Topics include timing, structure and negotiations, characteristics of a CU heading towards a merger, and maximizing benefits. [9/2/14]