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NCUA Chairman Todd Harper provided an update on NCUA initiatives at the Cooperative Credit Union Association's CU Accelerate 2023 event last weekend. Harper addressed the audience and participated in a fireside chat with CCUA President/CEO Ron McLean.
Harper said the NCUA is well-positioned to address issues that may arise from broader market concerns about liquidity in the financial services sector.
"The recent turmoil in the banking system is a reminder of the need to manage capital, interest rate risk, liquidity risk, and credit risk," Harper said. That is why they were all highlighted as areas of focus in the NCUA’s supervisory priorities for the last several years. In concentrating on these issues when examining institutions, the NCUA must be forward looking, risk focused and ready to act."
He also emphasized the importance of the Central Liquidity Facility as an emergency liquidity backstop for the industry and consumer financial protection, stating that safety and soundness and consumer compliance go together.
Harper's full remarks are available on NCUA.gov.