Links in “NCUA”

Principal and interest on the NCUA Guaranteed Notes and other obligations of the Corporate Credit Union Stabilization Fund must be paid to the Treasury before NCUA can distribute any remaining funds to credit unions. Still, no additional assessments to credit unions are expected. [11/26/14]

NCUA announced that it will issue its revised risk-based capital rule at its January 15 board meeting. Chairman Matz stated that the revised proposed rule will have a 90-day comment period. [11/24/14]

NCUA Board member Mark McWatters is urging the NCUA Board to permit public comment on the agency’s budget proposal saying it would not compromise the Board’s independence. McWatters voted against the 2015 budget at the November board meeting. [11/24/14]

The NCUA will be revising the risk-based capital rule in January of 2015. Along with the revision will be a second comment period. [11/24/14]

Unfortunately, it's an increase. The NCUA raised the current 69.2% OTR to 71.8% based on a methodology that took into consideration factors including the value to the NCUSIF, cost of NCUA resources and programs, and more. But remember, credit unions with less than $1 million in assets are not subject to the fee. [11/21/14]

The NCUA issued its November report with articles in the monthly newsletter covering a variety of current topics including ATM skimmers, risks in electronic payment systems, fighting fraud, and mobile banking. [11/21/14]

The NCUA's budget for 2015 was announced with the headline noting the 4.2% increase was the smallest since 2008. While such news might seem positive, NASCUS announced in a separate headline displeasure with the overhead transfer rate rise from the previously "staggering" level of 69.2% to a now higher 71.8%. [11/21/14]

NCUA Chair Debbie Matz reported that while the agency doesn’t yet have 100% compliance with the call report filing deadlines, compliance is improving. She reported that the naughty list is down to 47 and staff is reviewing these cases on an individual basis to determine if there are mitigating circumstances that would warrant a reduction or waiver of civil money penalties. [11/19/14]

With cybersecurity a top priority for NCUA this year, it is likely that it will take a larger role in the examination process according to Tim Sergerson, Deputy Director of the Office of Examination and Insurance.  The focus will be on what the credit union is doing to mitigate the risk of a cybersecurity attack. [11/17/14]

At its November 20^th meeting, the NCUA Board will be addressing the 2015 budget, the overhead transfer rate, and the operating fee schedule. The Board will also review the quarterly Temporary Corporate Credit Union Stabilization Fund. NCUA has already stated that there will be no future assessments to credit unions for the stabilization fund. [11/14/14]