CLF, asset threshold interim final rules on NCUA’s March 18 agenda
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:
- Interim final rule, Part 725, Central Liquidity Facility;
- Interim final rule, Parts 700, 702, 708a, 708b, and 790, asset thresholds pertaining to large credit unions; and
- Board briefing, NCUA Guaranteed Note and Asset Management Estates Programs.
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.