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Merger registry RegFlex on NCUA agenda
ALEXANDRIA, Va. (10/15/10)—The National Credit Union Administration (NCUA) will release its national merger registry, which would provide the names of potential credit union merger partners, at next Thursday’s open board meeting. The registry was initially recommended by the Credit Union National Association (CUNA). CUNA has also urged the NCUA to address due diligence and loss-sharing incentives as it further refines its approach to the merger process, and has asked the NCUA to provide greater detail on its criteria for selecting which credit unions on the merger partner registry should serve as acquirers. The merger recommendations were developed by CUNA's Mergers Task Force and presented to NCUA in the Task Force's May report. Final rules on fixed assets and the NCUA’s regulatory flexibility (RegFlex) program will also be discussed during the meeting. CUNA earlier this year urged the NCUA to revise or to simply not adopt proposed changes to its RegFlex program. Those changes, which were announced in March, would eliminate RegFlex authority for credit unions in regard to the 5% limit on fixed asset investments, the requirement for the personal guarantees of borrowers for member business loans (MBLs), stress testing of certain investments, and discretionary control of investments. The NCUA will also release its plan for the years 2011 through 2016, and will cover the status of its insurance fund during the open portion of the meeting. Insurance appeals and supervisory activities will be discussed during the closed portion of the meeting. For the full NCUA agenda, use the resource link.
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