The NCUA board issued a lending proposal, finalized a suspensions and debarment rule and extended the federal credit union loan interest rate ceiling, among other items on the agenda at its Thursday board meeting. The board also approved a proposed rule to delay NCUA’s risk-based capital rule by one year.
The NCUA board approved an operating fund budget for 20187 at $298.1 million. NCUA staff projects agency obligations for the year will be approximately $8.5 million less than the approved budget, based on current salary and spending projections.
The majority of the underspending is attributable to lower-than-projected staffing levels, which are resulting in lower payroll costs. In addition to lower payroll estimates, NCUA offices lowered spending estimates for non-payroll categories by $980,000, mostly related to travel.
The NCUA board also issued a proposed rule to amend rules relating to loans and lines of credit to members.
The proposal is designed to make those regulations more user-friendly by:
The board also approved: