Compliance Blog

Here's the latest materials from NCUA's corporate stabilization program.  Yesterday, NCUA released a number of guidance documents designed to explain how the corporate stabilization program will affect natural person credit unions.  Rather than link to all of the documents separately, NCUA created a Corporate Stabilization Program page.  Access it here.

From there, you'll be able to access the following documents:

1. Accounting Bulletin 09-01, which describes the accounting moves credit unions will need to make to account for transactions related to the stabilization program.
2. FAQs regarding the program.  (You know how much I love those FAQs.)
3. And lots of other stuff, including the ANPR.

During yesterday's NAFCU webcast, NCUA officials indicated that they'll add to this page, and to the FAQ when necessary.  Of note: Be on the lookout for a letter to credit unions which will include supervisory guidance given to examiners about this situation.  To paraphrase NCUA officials, they indicated that NCUA examiners are being told to take into account effects of the stabilization program (and its affects on your ROA and net worth) when they examine your credit union.  I'll give you a shout out when that becomes available.

Editor's note.  My post wasn't all that clear on a major point.  My understanding of NCUA's presentation was this: NCUA is instructing examiners not to penalize credit unions for any affects that the stabilization plan would have on a credit union's financials.