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The July issue of The NCUA Report, now online, features a column from NCUA Board Chairman Rick Metsger on the agency's upcoming public budget briefing and outlines the potential economic and interest rate scenarios credit unions should be aware of following the U.K.'s decision to leave the European Union.

In his article in the Chairman's Corner, Metsger details his decision to hold a public briefing in October on the agency's 2017-2018 budget and encourages stakeholders to attend and contribute to the conversation.

NCUA Board Member J. Mark McWatters, in his column, says holding a public budget briefing is the first step toward a better budget. He says the public briefing will lead to better transparency and accountability to credit unions and Congress. He also recommended extending the exam cycle for well-run credit unions and improving exam efficiencies.

NAFCU President and CEO Dan Berger this week submitted a letter to the NCUA Board thanking the board members for announcing an October budget briefing and urging the board to continue to act with transparency and increased efficiency in its budget process.

Also in this month's report, an analysis by NCUA's Office of the Chief Economist says Brexit could potentially affect the energy and manufacturing sectors, leading to slower economic growth in the U.S. and pushing long-term rates down, which would further compress credit unions' net interest margins.

This month's NCUA Report also outlines past NCUA Board actions and a report on how low-market rates have affected credit unions' margins.