The NCUA board is expected to issue a request for comments on the future of the Temporary Corporate Credit Union Stabilization Fund at Thursday’s open board meeting, among other items on the agenda. The meeting is scheduled to begin at 10 a.m. (ET), and live video will be streamed on NCUA.gov.
According to NCUA , the request for comment will be about closing the stabilization fund and setting the National Credit Union Share Insurance Fund’s (NCUSIF) normal operating level.
CUNA has been closely following the future of the stabilization fund, and issued a white paper earlier this year on decisions NCUA will need to make when winding down the Corporate Resolution Program.
CUNA Chief Policy Officer Bill Hampel, speaking at CUNA CFO Council in May, said credit unions will not receive direct refunds of stabilization fund assessments, but instead, the surplus equity in the fund will be added to the share insurance fund and provide NCUSIF dividends.
Other items on Thursday’s agenda include: