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NCUA Board to receive briefings on cybersecurity, CLF, more
The NCUA Board next week will receive a briefing on cybersecurity and the Central Liquidity Fund (CLF). NAFCU, along with several trade groups, last month wrote to the Senate Armed Services Committee, sharing support for the Central Liquidity Facility Enhancement Act which would make the provisions in the CARES Act related to CLF permanent.
The meeting, scheduled to begin at 10 a.m. Eastern, and will be held in-person and it will also be available via livestream on the agency’s website.
Of note, the agency will also discuss its Risk Appetite Statement.
Prior to the Board meeting, the NCUA will hold a briefing to discuss its proposed 2023-2024 budget, which will be held Wednesday, October 19. The NCUA announced its proposed budget last month, estimating $350.8 million which is a $30.7 million, or 9.6 percent increase. NAFCU’s Vice President of Research and Chief Economist Curt Long will present NAFCU’s views, including our concerns with the size of the proposed increase in the NCUA budget.
NAFCU President and CEO Dan Berger, in response to the proposed budget, stated that while the association supports an engaged and supportive NCUA, it does not support “the agency’s decision to propose unreasonable increases in its 2023-2024 proposed budget.”
View the full agenda. NAFCU will monitor next week's meeting and update credit unions on the latest from the NCUA.