The NCUA board heard a quarterly update on the National Credit Union Share Insurance Fund at today’s board meeting. Agency staff reported a net income of $54.4 million and a net position of $20.4 billion for the quarter ending March 31.
NCUA staff also projected the equity ratio for the Share Insurance Fund will be 1.25% on June 30. The ratio stood at 1.26% on Dec. 31, 2021.
NCUA Chairman Todd Harper noted the equity ratio remains “relatively stable” despite being “below an ideal level” and said credit unions’ ability to manage interest rate risk will remain a crucial factor going forward.
Other first quarter highlights:
The board also discussed its recent Letter to Credit Unions (22-CU-07) on Distributed Ledger Technologies.