Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Liquidity Rule Details, Tips, Star On NCUA YouTube Video
ALEXANDRIA, Va. (11/19/13)--In a new YouTube video, National Credit Union Administration staff provide details on the agency's new liquidity and contingency planning regulation, upcoming compliance deadlines, and additional resources the agency is providing for credit unions.
 
The video reflects an October NCUA Letter to Credit Unions on this issue, "Guidance on How to Comply with NCUA Regulation §741.12 Liquidity and Contingency Funding Plans" (13-CU-10). (See resource link for Oct. 28 News Now story: NCUA Letters Detail Liquidity, E-Filing Regs For CUs.) The YouTube spot is hosted by NCUA Director of Examination and Insurance Larry Fazio and NCUA Division of Capital and Credit Markets Director J. Owen Cole, Jr.



Under the final rule, which was approved at last month's NCUA open board meeting:
  • Credit unions with less than $50 million in assets would need to maintain a basic written emergency liquidity policy, but would not be required to take further action;
  • Credit unions with assets of $50 million or more would be required to develop contingency funding plans describing how their credit union would address liquidity shortfalls in emergency situations; and
  • Credit unions with assets of $250 million or more would be required to have access to a backup federal liquidity source for emergency situations.
The final rule effective date is March 31.
Other Resources

NCUA Video
RSS print
News Now LiveWire
Consumer inflation tapers after spring surge #NewsNow #Market http://t.co/bgvQd8fyuF
14 minutes ago
Have you read this one today in #NewsNow? What NCUA examiners look for on cybersecurity efforts: NCUA Report http://t.co/4g5wUavUAe
1 hours ago
.@CFPB sets $2.75M fine v. auto finance co. it says "distorted consumer credit records for years": TX-based First Investors Fin. Serv. Group
1 hours ago
University, college #creditunions add fin ed to higher ed. See #NewsNow http://t.co/NsyshwHPhg
3 hours ago
Are you going to be naughty or nice to your budget with holiday spending? http://t.co/FcN2YPxCIU
3 hours ago