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The NCUA Board The NCUA Board (Source: NCUA)

The NCUA’s equity ratio stood at 1.22% at the end of June — approaching the 1.20% level at which a formal restoration plan would be required, NCUA officials told the agency board Thursday.

The ratio has dropped 13 basis points since the end of 2019, largely because of a huge increase in insured deposits because of the coronavirus crisis, Eugene Schied, the agency’s CFO, said during the board’s monthly meeting. The agency’s Normal Operating Level is 1.38%. Federal law allows the NCUA to assess a premium on credit unions if the equity ratio dips below 1.30%. The law requires the agency to adopt a plan to increase the equity ratio once it dips below 1.20%.

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David Baumann


Credit Union Times

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