NCUA Board to Review Several Issues With Major Implications for Credit Unions at July 20 Meeting

7/18/17

This Thursday, July 20, the NCUA Board will hold an open meeting to discuss several matters that directly impact credit unions. Following are the issues up for discussion.

  • Share Insurance Fund Quarterly Report: This report will provide a first look at how taxi medallion loans have affected the Share Insurance Fund (SIF). In addition, it will likely give a first look at the impact of rapid deposit growth on the fund.
  • Proposed Rule, Part 701, Emergency Mergers
  • Board Briefing, 2017 Mid-Session Budget
  • Request for Comments, Closing the Stabilization Fund and Setting the Share Insurance Fund Normal Operating Level: The NCUA is seeking guidance from credit unions on how to close the Temporary Corporate Stabilization Fund. Transferring excess funds from the Corporate Stabilization Fund to the SIF would offset a potential assessment due to rapid deposit growth, and likely allow for refunds to credit unions.
  • Proposed Rule, Part 741, Share Insurance Fund Equity Distributions: The NCUA is proposing a rule that would temporarily increase the maximum Share Insurance Fund limit, allowing them to wind down the Corporate Stabilization Fund in a reasonable manner. Credit unions should consider the SIF equity distributions proposal carefully and submit comments.

Look to Anthem next week for a follow-up article on the outcomes of this meeting.

Posted in Around the NW, NCUA.