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Budget items lead Nov. 17 NCUA meeting
ALEXANDRIA, Va. (11/14/11)--Remittances, technical corrections to golden parachute and indemnification payment rules, and the 2012 budget, overhead transfer rate, and operating fee scale are among the items on the National Credit Union Administration's (NCUA) packed Nov. 17 agenda.

NCUA Chairman Debbie Matz last week hinted that the 2012 budget would see an increase "in the single digits." The NCUA originally set its 2011 budget at $225 million, but reduced that amount by $2 million earlier this year. Matz during a Town Hall webinar held last week stressed that the agency has "spent a great deal of time scrubbing the [2012] budget to eliminate inefficiencies and redundancies," and argued that recent budgetary increases, which have totaled $48 million in 2010 and 2011, have ultimately avoided $1.5 billion in potential National Credit Union Share Insurance Fund (NCUSIF) losses.

The 2012 premium and assessment ranges for the NCUSIF and the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) will also be set at the meeting. NCUA staff last week said there would be no NCUSIF premium in 2011, the premium range in 2012 would be between zero and seven basis points (bp), and the 2012 TCCUSF assessment would be between eight and 11 bp.

A report on the status of those funds, and the NCUA's 2012 overhead transfer rate and operating fee scales, will also be covered during the meeting. The agency last year approved an overhead transfer rate of 58.9%, and voted to increase the asset level dividing points for the natural person federal credit union operating fee scale by 3.4% and to decrease the natural person federal credit union operating fee rates by 2.86%.

The NCUA will also respond to Indianapolis, Indiana-based Finance Center FCU's request to expand its community charter during the meeting. However, the agency last Thursday said it had removed planned discussion of a proposed rule on loan participations from the open agenda.

The closed board meeting, which typically immediately follows the open board meeting, has been rescheduled to Nov. 16.

For more on the NCUA board meeting, use the resource link.
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