ALEXANDRIA, Va. (1/4/13)--A final rule to raise the small credit union asset threshold will lead the agenda when the National Credit Union Administration (NCUA) holds its first open meeting of 2013 next Thursday.
In September the agency proposed to increase the asset test that defines a "small" credit union to $30 million in assets, up from the current $10 million. The Credit Union National Association (CUNA) has advocated that for purposes of regulatory flexibility, NCUA should use the same asset level as does the Small Business Administration (SBA).
The SBA's definition of "small" entity includes institutions with assets of up to $175 million. The agency is considering raising the level of $500 million. For purposes of assistance from the NCUA, the agency should set the threshold at $50 million, CUNA has urged.
Also on the agenda: A final rule that would extend the time that credit unions have to respond to the NCUA regarding possible low-income designation to 90 days. The current response deadline is 30 days.
CUNA supported the proposal, which would also make minor technical amendments to the NCUA's insurance regulation to reflect current agency practices.
Another final rule on the agenda would define a federally insured state credit union as in "troubled condition" if either the NCUA or the state regulator assigns a CAMEL rating of 4 or 5. CUNA maintains this regulatory change is unnecessary.
The NCUA agenda also includes:
- A board briefing on an interagency final rule addressing higher-priced mortgage loans;
- The agency's 2013 annual performance plan; and
- Some technical amendments.
The open meeting is scheduled to begin at 10 a.m. (ET). A closed meeting typically follows an open session, but one has not been scheduled for Jan. 10.
For the full NCUA open meeting agenda, use the resource link.