NCUA Board Notes: Comments Needed After Call Report Review Announced
May 19, 2016
May 20, 2016
Stakeholder Views Sought for Call Report and Profile Review
NCUA plans to consult with credit union system stakeholders as it conducts a comprehensive review and modernization of the Call Report and Credit Union Profile content to leverage technology, improve data collection and enhance the examination process.
In a statement following the meeting, Chairman Metsger noted that NCUA is seeking to identify ways to “reduce or eliminate any potentially unnecessary Call Report burdens and improve NCUA supervision.”
NCUA uses the data collected in the Call Report to monitor and supervise risk in credit unions and protect the National Credit Union Share Insurance Fund.
Stakeholders will be invited to submit written comments electronically or by mail, and instructions for submission will be included in the upcoming Federal Register posting. The agency will be gathering information through an open and public process of comment and review that may include using online surveys, focus groups, workshops and other forums. NCUA will also form an internal working that will consult with external stakeholders.
“Once NCUA publishes this request for information, I urge all interested individuals in the credit union system to assist us by providing their insights and suggestions during this comment process,” Metsger said.
Click here for more on the review, and for how to submit your comment, or contact NWCUA AVP of Regulatory Advocacy John Trull directly at 503-350-2209 or email@example.com with concerns.
Stabilization Fund Payment to Reduce Treasury Borrowing to $1 Billion
By the end of May, NCUA plans to make a $700 million payment to the U.S. Treasury against prior borrowings by the Stabilization Fund.
When that payment is made, the Stabilization Fund’s outstanding borrowings from the U.S. Treasury will decrease to $1 billion. The payment largely comes from the net proceeds from approximately $700 million in recent NCUA legal recoveries from Goldman Sachs, UBS and Credit Suisse, some of which came in after the close of the first quarter.
“NCUA’s corporate resolution plan remains on the right track, thanks to an improving economy, strong legacy asset performance and the continued hard work of the NCUA staff in successfully pursuing legal recoveries and ably managing the Stabilization Fund,” Board Chairman Rick Metsger said. “NCUA is committed to staying on this prudent course to achieve the Stabilization Fund’s ultimate lowest-cost resolution.”
For the quarter ending March 31, 2016, the Stabilization Fund’s net position increased by $78.2 million to a positive $618.6 million, up from $540.4 million at the end of the previous quarter, based on the best available preliminary and unaudited information.
Click here for more on the measure in the NCUA Board Action Bulletin.