The NCUA board will conduct a briefing on adding S (for sensitivity risk) to its CAMEL rating system at its June 16 board meeting. The meeting also includes an interim final rule on statutory inflation of civil money penalties.
As mentioned by NCUA Chair Rick Metsger at the agency’s last meeting, a request for information on modernizing data collection has been published in the Federal Register. Comments are due to the agency Aug. 1.
Input from credit union leaders and CUNA has been essential to the NCUA’s recent efforts to modernize the examination system, and it will be needed in the future, said CUNA Chief Advocacy Officer Ryan Donovan.
CUNA will be at the forefront of the conversation as the NCUA commences a comprehensive modernization of its examination system. CUNA's strategy includes providing input to the agency and keeping members informed.
Credit unions will have an extra three days to file second- and third-quarter call reports this year, the NCUA announced Monday. Second-quarter call reports will be due July 25, third-quarter call reports will be due Oct. 24.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.
The NCUA’s decision to review its examination cycle comes after months of advocacy from CUNA, especially its Examination and Supervision Subcommittee. Chaired by Paul Gentile, the subcommittee met numerous times with the NCUA over the past year.
The NCUA’s working group on the agency’s examination cycle will report to the board in 90 to 120 days with recommendations regarding an extended examination cycle. The group will be chaired by Region 4 Director Keith Morton.
Thursday’s NCUA meeting will be the agency’s first with Rick Metsger serving as chair, and it will also feature the first of what Metsger said will be an occasional part of the meeting, a briefing on call report modernization.
Credit unions can make member business loans without requiring a personal guarantee in certain circumstances as of Friday. The change is the first part of the NCUA’s recently finalized member business lending rule.
President Barack Obama sent greetings Thursday to those celebrating International Credit Union Day. CUNA worked closely with the White House on the statement, and a number of credit union-friendly legislators also weighed in with the White House.
The NCUA’s revised supervisory approach to interest rate risk is covered in a recent Letter to Credit Unions (16-CU-08). The new standardized approach is designed to increase focus and resources toward higher risk credit unions.
CUNA’s Strategic Communications Department teamed up with The Wall Street Journal this week on an infographic illustrating the differences between credit unions and banks. The graphic ran in print today, on International Credit Union Day.