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Today's open meeting of the NCUA Board is expected to be a lengthy one that will include action on technical revisions to the corporate regulation and a proposed rule applying NCUA Regulatory Flexibility measures to all federal credit unions.

As proposed, the technical changes to the corporate rule would revise the definition of a corporate credit union's daily average net risk-weighted assets and treatment of Central Liquidity Facility stock subscriptions. NAFCU supports these, but it has concerns about the proposed elimination of credit ratings as a tool in evaluating potential investments.

The proposed application of RegFlex to all federal credit unions is a welcome development, but NAFCU remains concerned over previous changes that removed from this program earlier waivers of the fixed assets limitation and guarantees for some member business loans.

Also slated today are:

• a proposed rule on loan participations;
• an advance notice of proposed rulemaking on credit unions' access to emergency liquidity;
• the agency's 2011-2014 strategic plan;
• the 2012 annual performance budget;
• national security delegations of authority;
• the 2012 budget for NCUA Guaranteed Note securities management and oversight; and
• a report on the National Credit Union Share Insurance Fund.