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The NCUA Board holds an open meeting today to hear a quarterly report on the Temporary Corporate Credit Union Stabilization Fund, which, by all previous accounts, still is not likely to require any new assessments from credit unions.

The board meeting, set for 10 a.m. Eastern, can be viewed through a link on NCUA's home page; no registration is required. A closed meeting follows.

The agency this week also released its May newsletter, The NCUA Report, which includes Chairman Debbie Matz's update on work underway to provide credit unions some regulatory relief.

In her regular column, Matz says the agency this year will finalize rules raising the asset threshold for what is a "small" credit union and eliminating the 5 percent fixed-assets limitation. She also noted the recent final rule on association common-bond rules, which as of July 6 will list 12 categories of groups that can be added to a federal credit union's field of membership without prior NCUA review.

The agency also has an FOM working group in place, and credit unions can participate in discussions about FOM requirements by participating in the working group's conference calls, contacting the Office of Consumer Protection (dial 703-518-1140) or sending suggestions by email to FOMSuggestions@ncua.gov.

NAFCU sent NCUA a detailed list of recommendations for FOM rule improvements earlier this week. The recommendations were formulated by the association's FOM Task Force, which includes representatives from 50 of the association's member credit unions.