NCUA Releases Guidance on Risk-Based Examination Scheduling Policy
This Letter to Credit Unions outlines the examination scheduling policy and supervision process changes recommended by NCUA’s Exam Flexibility Initiative working group and approved by the NCUA Board. These changes provide more flexibility to both address risk and be more responsive during economic downturns went into effect at the beginning of 2017.
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CUSO Registry Reaffirmation Period Begins Feb 1
Credit union service organizations will have from Feb. 1 to March 31 to complete their annual required reaffirmation with the NCUA’s CUSO Registry. CUSOs can complete this required process online through the registry. To help CUSOs complete the annual reaffirmation process, NCUA will host a training webinar on Wednesday, Jan. 25 at 2:30 p.m. Eastern. Registration for this 90-minute webinar is now open.
MoreNCUA Sets 2017 Call Report Deadlines
Beginning with the Dec. 31, 2016, reporting cycle, federally insured, natural-person credit unions will have until the final Sunday of the month following the end of the quarter to file Call Reports. Credit unions will now have, on average, an additional seven days to file Call Reports.
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NCUA Webinar Will Cover New Field-of-Membership Rule
The NCUA’s new field-of-membership rule takes effect Feb. 6, and you can get important information about the new rule in an agency webinar scheduled for Wednesday, Feb. 1. This 90-minute webinar, “New Field-of-Membership Rule – Effective Feb. 6, 2017,” will begin at 2 p.m. Eastern. There is no charge for this webinar.
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Future Stabilization Fund Rebates Possible, but Markets and Law Decide When
Experts in NCUA’s Office of Examination and Insurance provided the Board with a detailed briefing on the current corporate resolution cost projections. Current estimates indicate the improved performance of the corporate resolution program could lead to rebates of some Temporary Corporate Credit Union Stabilization Fund assessments and partial recoveries for holders of depleted corporate capital.
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