Newsroom
August 31, 2015
NCUA invites comments on OTR, operating fee methodologies
NCUA Board Chairman Debbie Matz announced Monday that the agency will seek comments from credit union stakeholders and the public on the methodologies used for calculating both the overhead transfer rate and the federal credit union operating fee.
"NAFCU and our members have long sought greater transparency from the agency on its budgeting processes," said Berger. "Over the last several weeks, we have seen the agency take several important steps toward greater transparency. Chairman Matz's announcement that the agency will seek public comment on OTR and the operating fee constitutes another step forward towards transparency. NAFCU and our members look forward to providing our input on these issues, as they are critical mechanisms of the agency's overall funding and budgeting process."
Matz noted in Monday's statement that she intends to call for an NCUA Board vote in January to publish both methodologies as public notices in the Federal Register. NCUA said this process typically takes six to nine months, including the minimum of a 30-day comment period, review of the comments and staff recommendations for NCUA Board review and action.
Matz said NCUA also plans to publish a Federal Register notice in January with a multi-year draft NCUA Strategic Plan, on which the agency will also invite comments from the public and credit union stakeholders.
NCUA has posted line-item budget data and OTR analysis to its website.
"NAFCU and our members have long sought greater transparency from the agency on its budgeting processes," said Berger. "Over the last several weeks, we have seen the agency take several important steps toward greater transparency. Chairman Matz's announcement that the agency will seek public comment on OTR and the operating fee constitutes another step forward towards transparency. NAFCU and our members look forward to providing our input on these issues, as they are critical mechanisms of the agency's overall funding and budgeting process."
Matz noted in Monday's statement that she intends to call for an NCUA Board vote in January to publish both methodologies as public notices in the Federal Register. NCUA said this process typically takes six to nine months, including the minimum of a 30-day comment period, review of the comments and staff recommendations for NCUA Board review and action.
Matz said NCUA also plans to publish a Federal Register notice in January with a multi-year draft NCUA Strategic Plan, on which the agency will also invite comments from the public and credit union stakeholders.
NCUA has posted line-item budget data and OTR analysis to its website.
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