WASHINGTON—With the NCUA board set to receive on Thursday a briefing on the agency’s 2022 mid-session budget, CUNA says it will be watching to see if any changes as a result of most agency staff largely continuing to work offsite.
“We are very interested to see if there's any adjustments, particularly in light of the current state of on-site operations of NCUA staff,” said Luke Martone, CUNA’s senior director of advocacy. “Given the current state of on-site operations for NCUA staff—they're currently in phase II, which makes it voluntary for staff, including examiners, to be on site. “So, we are interested to see to see if there's any budget update regarding that.”
As CUToday.info reported, the NCUA board Thursday will also address a final rule regarding the asset threshold for determining the appropriate supervisory office.
https://www.cutoday.info/Fresh-Today/Mid-Year-Budget-Briefing-Cyber-Incident-Notification-Rules-More-on-Agenda-for-NCUA-Board-Meeting
‘Needs to Make Sense’
“The proposal would increase (the threshold) from $10 billion to $15 billion,” said Martone. “Increasing it to $15 billion would be just for supervision and would not alter any regulatory requirements, such as capital planning and stress testing. While we do support it because it needs to make sense regarding the number of credit unions that continue to increase in asset size, we do urge the agency to ensure that there is adequate expertise at the regional level, which is where I think credit unions up to $15 billion would continue to be supervised.”