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Comments due: NCUA (interim final rule; asset thresholds for large credit unions)

May 24

The National Credit Union Administration (NCUA) Board seeks comments on an interim final rule that temporarily allows federally insured credit unions (FICU) to use asset data as of March 31, 2020, to determine whether they are subject to capital planning and stress testing requirements under the NCUA’s regulations and supervision from the Office of National Examinations and Supervision (ONES). This relief, a response to the pressures of the COVID-19 pandemic that include unusually high deposit growth, is applicable for the calendar years 2021 and 2022. Under the interim final rule, asset growth in 2020 will not trigger new regulatory requirements under part 702 until Jan. 1, 2023, at the earliest.

Reg lookup: Asset Thresholds Pertaining to Large Credit Unions

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May 24
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