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News Now

Washington
Interest-risk policy leads NCUA March agenda
ALEXANDRIA, Va. (3/11/11)—A proposed rule addressing interest rate risk policy will be one of many items on the National Credit Union Administration (NCUA) Board's agenda when it next meets at 10:00 a.m. (ET) on March 17. While exact details on the NCUA’s proposal are not known at the time, the Credit Union National Association’s (CUNA) Senior Vice President for Compliance Kathy Thompson said that action on interest rate risk has long been awaited. Net worth and equity ratio definitions, corporate credit union technical corrections and low-risk asset definitions are also on the agenda. The net worth proposal is expected to implement recent Federal Credit Union Act amendments that allow credit unions to count 208 assistance as net worth during mergers and other situations. CUNA supports this change. CUNA Deputy General Counsel Mary Dunn added that the NCUA’s planned corporate credit union technical changes are not expected to be substantive. However, the NCUA is expected to discuss allowing corporate credit unions to purchase its NCUA Guaranteed Notes, Dunn added. The NCUA's monthly report on the status of its insurance funds will also be delivered during the meeting. A closed NCUA session will follow the open meeting. Insurance appeals and supervisory matters will be discussed during the closed meeting. For the full NCUA meeting agenda, use the resource link.
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