Economic and CU Monitor (Special Topic: Examinations) - November 2016

This month's special topic: 

Examinations

In May 2016, NCUA Chairman Metsger established the Exam Flexibility Initiative (Initiative) to evaluate the agency’s examination and supervision program, a key mission function of the credit union industry’s primary regulator. The Initiative working group solicited input from credit union stakeholders on ways to modernize and improve NCUA’s examination process. As a result of that feedback, in October 2016, the Initiative working group issued a report, making ten recommendations to the NCUA Board. On November 17, 2016, the NCUA Board approved those recommendations, including an extended 18-month exam cycle for well-managed, low-risk federal credit unions with assets of less than $1 billion. The extended exam cycle will become effective January 1, 2017. NAFCU will continue to engage the agency and advocate for an extended exam cycle for all well-run, low-risk credit unions, not just those below an arbitrary asset-size threshold.

NAFCU's Economic and CU Monitor is a NAFCU member-only monthly report of the latest macroeconomic and financial trends affecting today's credit unions, including trend data among NAFCU member credit unions.