July 18, 2013

NCUA Board poised to set stabilization assessment

July 19, 2013 – The NCUA Board is set to decide this year's corporate stabilization assessment during its July 25 open meeting, which will also include a quarterly report on the National Credit Union Share Insurance Fund, a reprogramming of NCUA's 2013 budget and more.

In November, NCUA estimated that this year's stabilization assessment could equal an amount ranging from 8-11 basis points of insured shares. It estimated this year's share insurance fund premium, which is decided later in the year, at a range of 0-5 basis points.

The stabilization assessment would be used to repay costs of the Temporary Corporate Credit Union Stabilization Fund.

In addition to the assessment, the quarterly NCUSIF report and mid-year reprogramming, the July 25 agenda includes:

  • proposed Interpretive Ruling and Policy Statement 13-1, Minority Credit Union Preservation Program;
  • a board briefing on an interagency proposal, Joint Diversity Standards for Regulated Entities;
  • a proposed rule on the electronic filing of financial reports (revising Parts 741and 748 of NCUA's rules and regulations);
  • a request from San Francisco FCU to expand its community charter.

The meeting is set for 10 a.m. next Thursday. The board will hold its closed session Wednesday.