ALEXANDRIA, Va. — A final derivatives rule could cost the agency as much as $16 million over three years.
The NCUA released last week a Supervisory Letter to examiners that reveals how the field staffers will evaluate credit union compliance with recent changes in troubled debt restructuring loan rules.
The NCUA reported March 28 that following a twice-annual review, the highest estimated amount credit unions have yet to pay in corporate assessments has declined by $900 million.
Supervisory letter says risk-based approach should be taken to examining troubled debt management at credit unions.
Agency says reduction in 2013 corporate assessment not in the offing but have passed the halfway point in overall payback.
Although the NCUA is already addressing key findings revealed in a national survey conducted by CUNA and its affiliated state league organizations, the trade association told Credit Union Times that the results still show room for improvement.
Trade group says agency already addressing key findings in its survey of 1,500 respondents about examination process.
The NCUA won’t require credit unions to adopt Basel III capital requirements, said director of Examination and Insurance Larry Fazio. However, as required by statute, he said the federal regulator will have to require credit unions maintain capital that is “comparable” what other regulators enforce.
Both NCUA Chairman Debbie Matz and Consumer Financial Protection Bureau Director Richard Cordray revealed developments in ongoing regulatory issues during a Feb. 5 webinar in which both answered questions from their credit union audience.
The Federal Home Loan Banks want to be included in the NCUA’s pending final emergency liquidity rule, according to a Jan. 31 letter to NCUA Board Chairman Debbie Matz and Board Member Michael Fryzel signed by the 12 FHLB presidents.