The NCUA Board will vote on interim final rules relating to the Central Liquidity Facility and asset thresholds pertaining to large credit unions at its March 18 board meeting. The meeting will be a live audio stream, available at NCUA.gov, starting at 10 a.m. (ET).
The complete agenda is:
CUNA has called on NCUA to issue an interim final rule to allow credit unions, through Dec. 31, 2021, to determine applicability of certain asset-based regulatory thresholds using asset data as of Dec. 31, 2019, if the credit union’s assets as of that date were less than its assets on the date as of which the applicability of a given threshold would normally be determined.
This would provide relief to credit unions that might see pandemic and pandemic-policy related balance sheet growth resulting in additional regulatory or reporting requirements because they are temporarily over an asset-based threshold.