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The NCUA Board approved a $6.1 million budget for the Temporary Corporate Credit Union Stabilization Fund in 2013, which will mean a 20 percent decrease from the 2012 budget and no net change in staffing.

The budget, which will cover oversight of the stabilization fund and related activities in 2013, will be funded from the TCCUSF. It includes the costs of the NCUA Guaranteed Notes Securities Management and Oversight Committee as well as costs incurred by other NCUA offices in support of the corporate system resolution program, the agency said. The budget is equivalent to less than 0.02 percent of the failed corporate credit unions' legacy assets.

NCUA said the stabilization fund budget has no impact on NCUA's 2013 operating fund budget approved Nov. 15.

NCUA Chairman Debbie Matz said the credit union system has "regained its stability since the failure of five corporate credit unions in 2009 and 2010, as a result of NCUA's actions and the decisions of credit unions." She added that the agency will "continue to exercise the same prudent management of the Stabilization Fund that brought us this far."

NAFCU General Counsel and Vice President of Regulatory Affairs Carrie Hunt said that the association has "consistently urged the NCUA to keep any assessment on credit unions as low as possible and support the proper stewardship of the fund."

• NCUA Board Action Bulletin