Newsroom
Today: NCUA Board to issue exams RFI, proposed rule on risk-based net worth
The NCUA Board meets today and is expected to issue a request for information on the future of exams and supervision, a final rule on technical amendments, and a proposed rule on risk-based net worth. The board is also set to receive a briefing on the agency's guaranteed notes oversight program and an annual report on minority depository institutions (MDIs).
Exams and Supervision
Earlier this week, the federal financial institution regulators, including the NCUA, and state regulators issued guidance directing examiners to consider how the pandemic has impacted institutions as they assess safety and soundness.
Additionally, the NCUA last week issued a Letter to Credit Unions detailing its multi-phase approach to resuming on-site operations and conducting voluntary on-site examinations.
NAFCU has consistently pushed the NCUA for updates on exam modernization. NAFCU President and CEO Dan Berger previously called on the agency to provide additional examination flexibility and make other regulatory adjustments to ensure credit unions can focus on helping members during the coronavirus pandemic.
He also discussed exam relief in conversations with Hood, Harper and Board Member J. Mark McWatters.
Risk-Based Net Worth
The NCUA has previously indicated it is still working on efforts to create a community bank leverage ratio (CBLR) analog for credit unions that will be subject to the RBC rule. Under the CARES Act, the community bank leverage ratio was reduced from 9 to 8 percent.
Last year, the NCUA Board passed a final rule to delay the implementation of its risk-based capital (RBC) rule by two years to Jan. 1, 2022.
NAFCU previously urged the agency to grant additional capital flexibility and provide parity with banks amid the coronavirus pandemic and has led efforts to ensure credit unions and their members benefit from a modern capital regime.
NAFCU will monitor today’s meeting and update credit unions via NAFCU Today. The board will next meet July 16; view the 2020 meeting dates.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically. [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters. [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public
The Evolving Role of the CISO in Credit Unions
preferred partner
DefenseStorm
Podcast
Get daily updates.
Subscribe to NAFCU today.