The final CUSO rule and the operating budget for 2014 are amongthe items on the NCUA's agenda for the Nov. 21 board meeting.

The quarterly report on the corporate stabilization fund is thefirst matter of business on the agenda for the meeting at theNCUA's headquarters in Alexandria, Va.

The board briefing will take place afterward along with the“estimated range of premiums for the NCUSIF” and the assessment forthe corporate stabilization fund, the agency said.

The final CUSOrule, part 712, will come next followed by the 2014 operatingbudget, overhead transfer rate and the operating fee scale.

Also Read: CUNA Eyes NCUA Budget

Under the CUSO rule, every CUSO would be required to filefinancial reports directly with the NCUA and the appropriate statesupervisory authority.

In July 2011, the NCUA also suggested applying parts of the CUSOrule to federally insured state-chartered CUs and federal creditunions.

In October of this year, Credit Union Times asked Board Member Rick Metsger for his response to BoardMember Michael Fryzel's concern over the cost of the CUSO rule.

“I'm concerned about the cost of everything; that's my nature. Ihave hopes that those costs will be less than were originallyarticulated a year ago. I believe we're making progress and I thinkthat is a positive sign,” Metsger responded.

The former Oregon state legislator pointed out that current lawallows the examination of CUSO books and records.

“From a pragmatic and a fiscal standpoint, I don't see it beingwise to say we're going to hire a bunch of people to go look ateveryone's books when probably an overwhelming majority of thoseCUSOs do not present a significant threat to the share insurancefund,” Metsger said.

“It's more prudent to be able to get information to look atwhere we should target further examination than spend a lot ofmoney elsewhere. I think the purpose of it is excellent, but if wecan mitigate costs and take care of the concerns of unwittinglyrevealing proprietary information to outside sources, I thinkthere's a good chance it could move forward before the end of theyear,” he added.

The final liquidity rule was approved at the October board meeting. The comment period forthe proposed stress test rule that was discussed at the October meetingremains open.