NCUA final liquidity rule slated Oct. 24
Oct. 18, 2012 – A final rule on liquidity and contingency funding plans, another on loans in flood zones and latest developments for the National Credit Union Share Insurance Fund are among the topics slated for discussion at NCUA’s open board meeting Oct. 24, scheduled for 10 a.m. at the agency’s headquarters in Alexandria, Va.
NCUA’s proposal on liquidity, which would require credit unions with
more than $100 million in assets to have access to the federal discount
window or membership in the Central Liquidity Facility. NAFCU holds that membership in a Federal Home Loan Bank should also satisfy
the rule's requirement for access to emergency liquidity.
In other action Oct. 24, the board will look at the quarterly report on the NCUSIF. The meeting will also focus on the final rules for electronic filing of
financial reports and liquidity and contingency funding plans, and the
proposed rule for credit union capital planning and stress testing.
The NCUSIF was at 1.27 percent of insured shares this June. At the time, agency staff projected that ratio would rise to 1.31 percent following the September adjustment to insured credit unions' fund deposits.