ALEXANDRIA, Va. (11/5/12)--A public version of the National Credit Union Administration's (NCUA) new National Supervision Policy Manual (NSPM) was released on Friday.
The manual details internal NCUA operations and supervisory procedures for agency staff. Portions of the manual were removed from the public release version.
The NCUA developed the new NSPM over a two-year span. The new NSPM creates uniform operations and procedures for supervision throughout the country and improves the agency's ability to operate efficiently across regions, the NCUA said. Agency examiners were first trained on the new procedures in April, and that training process is ongoing.
The manual also implements key recommendations from federally mandated Material Loss Reviews conducted by NCUA's Office of Inspector General. The agency plans to review and update the NSPM as needed.
NCUA Chairman Debbie Matz said the new NSPM "brings more consistency and clarity to NCUA's supervisory operations and procedures across the country. In the past, practices have sometimes varied by region, and we felt it was important to bring these processes into a framework to improve and standardize credit union supervision," she added.
"Credit unions have relayed to me they are already seeing exam consistency improvements since the NSPM procedures went live nationally in July of this year," Matz said.
The Credit Union National Association (CUNA) and its Examination and Supervision Subcommittee plan to discuss the new exam manual with NCUA Director of Examinations and Insurance Larry Fazio.
CUNA earlier this year said that while examination consistency can be positive, the goal is to have examiners treat credit unions in a consistently professional manner, allowing the credit unions to develop and implement their own solutions to address problems.