ALEXANDRIA, Va. (9/11/15)--The National Credit Union Administration board will finalize three rules at its Sept. 17 board meeting. The meeting is scheduled to begin at 10 a.m. (ET).
The corporate credit union regulation was proposed at the board’s April meeting. It is meant to allow corporate credit unions to more easily provide short-term bridge loans to credit unions awaiting funding from the NCUA's Central Liquidity Facility (CLF).
The proposal would allow corporate credit unions to make bridge loans for up to 10 business days as interim funding to the CLF borrowers, and the bridge loans would be excluded from the corporate credit union’s aggregate unsecured lending cap.
CUNA supported the proposal in its comment letter sent in June.
Other items on the agenda include:
A live video stream of the meeting will be available on the front page of NCUA.gov, starting around 9:45 a.m. (ET), Sept. 17.
The closed portion of the board meeting has been moved to Sept. 16 at 2 p.m. (ET), and will consist of four considerations of supervisory action.