NCUA to Consider Definition Change of Low-Risk Assets
The NCUA added an agenda item to Thursday's meeting agenda to include an interim rule changing the definition of low-risk assets.
That definition is part of the section that deals with prompt corrective action, which is designed to remedy problems at federally insured credit unions with the least possible damage to the NCUSIF.
Currently, NCUA rules define those assets as "cash on hand (e.g, coin and currency, including vault, ATM and teller cash) and the NCUSIF deposit.''
The meeting is scheduled for 10:00 am ET at the agency's headquarters in Alexandria, Va.