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At today's board meeting, NCUA issued
a Proposed Rule on Chartering and Fields of Membership, received a Quarterly
Report on the Corporate Stabilization Fund, adopted the 2016/2017 Annual
Performance Plan, adopted NCUA’s 2016/2017 Operating Budget and Corporate
Stabilization Fund Oversight Budget, established the 2016 Overhead Transfer
Rate and Operating Fee Assessment Scale.
Rule – Appendix B of Part 701, Chartering and Fields of Membership.
proposed rule modernizes NCUAs Fields of Membership rule:
Corporate Stabilization Fund Quarterly Report
Quarter Statistics for the Corporate Stabilization Fund were presented by
Rendell Jones. $11.5 million in revenue
was reported. Cash balances increased in September as a result of the recent
settlements. A repayment of Treasury
balances were agreed to be made. Borrowings were down to $1.9 billion. Jones noted that the recent legal settlements
will not show up until the next financials.
is no likelihood of a premium or assessment in 2016.
2016/2017 Annual Performance Plan was adopted by the Board. It designates the following performance goals
Debbie Matz indicated they may return to an 18-month exam cycle in the future
for well performing credit unions, however, it was not likely in the next year
to allow some of the regulatory relief programs to take effect and for
established at $290.9 million representing a 4.1% increase, with 1,247
full-time equivalents (1.7% reduction).
established at $302.9 million representing a 4.1% increase with 1,247 full-time
equivalents (no change).
Corporate Stabilization Fund
Fund Budget established at $4.0 million (2.4% reduction), with five full-time
equivalents (no change)
Fund Budget established at $4.1 million (1.8 percent increase), with five
full-time equivalents (no change)
- Capital Budget:$10.1 million
- Capital Budget: $13.7
2016 Overhead Transfer Rate
overhead transfer from the NCUSIF is assessed to cover the expenses associated
with insurance-related functions of NCUA’s operations. The current rate for 2015 is 71.8
percent. For 2016 the Board adopted a
rate of 73.1 percent indicating the primary driver of the increase was an
increase in the percentage of insured shares held by state chartered credit
unions (up 0.9 percentage points to 47.7 percent). 73.1 percent of the total operating budget
will be paid out of the NCUSIF with the remaining 26.9 percent of the Operating
Budget paid for through the federal credit union operating fee.
2016 Operating Fee Assessment Scale
operating Fee Assessment methodology was approved by the board for the 2016
assessment cycle. The board:
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ADA Compliance Notice & Legal
© 2017 Credit Union National Association |
ADA Compliance Notice & Legal