2014 TCCUSF oversight budget $4.525 million

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Dec. 13, 2013 – The NCUA Board on Thursday approved a 2014 oversight budget of $4.525 million for the Temporary Corporate Credit Union Stabilization Fund, a reduction from this year’s budget of $6.145 million.

All of the oversight budget will come straight from the stabilization fund, NCUA said.

The 26 percent reduction in the 2014 budget includes no net change in staffing. It covers the costs of the NCUA Guaranteed Notes Securities Management and Oversight Committee and costs incurred by other NCUA offices to support the corporate system resolution program.

In other action, the board approved technical amendments to the corporate credit union rating system. The amendments, which take effect Jan. 1, update the regulations for a recent policy change replacing the Corporate Risk Information System with the CAMEL rating system.