ALEXANDRIA, Va. (8/14/15)--Recordings of the National Credit Union Administration’s July board meeting, as well as Chair Debbie Matz’s town hall webinar from July 28, are now available online.
The meeting featured approval of a final rule on fixed assets among other things, while Matz’s webinar touched on a host of topics brought up by credit unions.
The fixed-assets rule, with an implementation date of Jan. 1, 2016, removes the 5% cap on fixed assets, eliminates the waiver process and establishes a six-year time period for partial occupancy of premises.
The agency has drafted a supervisory letter to provide guidance to examiners regarding safety and soundness compliance. It will likely be sent in September.
The meeting’s agenda also included:
The video recording is available here, and will be posted for one year.
The town hall webinar, available here, covered a number of upcoming actions by the NCUA, including proposed rules on supplemental capital and field of membership scheduled to be released in the fall. Both items have working groups dedicated to figuring out what sort of rules the NCUA can propose without any statutory changes or new legislation.
A proposed supplemental capital rule would have an effective date matching the agency’s risk-based capital proposal, which is currently slated for 2019.
Larry Fazio, director of the NCUA’s Office of Examination and Insurance, said during the webinar that the NCUA would make a payment to the U.S. Treasury from the TCCUSF. A week later, the NCUA confirmed that the payment would be for $300 million.
Gail Laster, director of the NCUA’s Office of Consumer Protection, also said an agency website for capturing consumer complaints will be live by early September.