The NCUA board unanimously finalized two rules at its board meeting Thursday, and issued a request for information and a proposal on stress testing. CUNA attended the meeting, and detailed coverage can be found on its Removing Barriers Blog.
The proposed rule would amend agency regulations relating to capital planning and stress testing requirements. The rule would establish tiers of requirements with the full stress testing only required for credit unions with $20 billion or more in assets.
According to agency staff, NCUA seeks input on whether $20 billion is an appropriate threshold. Staff also noted they seek input from not only higher-asset credit unions, but all credit unions, as capitalization failures would impair share insurance fund positions.
Comments on the proposal will be due 60 after its publication in the Federal Register, which is expected in the coming days.
The finalized rules are:
Both rules will be effective Jan. 1.
The NCUA’s request for information seeks input on plans to adopt a new standardized data format for loan, deposit and investment data. Specifically, it seeks input on new data fields for credit cards, mortgages, and student loans as well.
The meeting also included a quarterly update on the National Credit Union Share Insurance Fund, which as of Sept. 30 has an ending reserve balance of $208.2 million and an equity ratio of 1.25%.