Final RBC rule, budget and NOL briefing on NCUA’s Dec. 12 agenda
The NCUA board will consider a final risk-based capital rule, the agency’s 2020-21 budget and will receive a briefing on the 2020 share insurance fund Normal Operating Level (NOL) at its Dec. 12 meeting. This will be the last meeting of the year for the board, and the meeting will be livestreamed starting at 10 a.m. (ET) on NCUA.gov.
NCUA proposed earlier this year to delay implementation of the RBC rule to Jan. 1, 2022, back from the currently scheduled Jan. 1, 2020. CUNA supports the delay, but continues to maintain the rule is a solution in search of a problem.
NCUA’s proposed 2020-21 budget proposed budget includes a 3.9% increase from the previous year. CUNA supported NCUA’s budget process in its presentation at NCUA’s Nov. 20 budget briefing, but also raised some concerns in its comment letter on the budget.
CUNA has also encouraged NCUA to issue additional share insurance fund distributions whenever possible, and to continue phasing down the NOL to 1.30% by 2021.