NCUA Doubles Down on Budget Needs Citing Fraud

NCUA Doubles Down on Budget Needs Citing Fraud

Citing an increase of fraud found during onsite examinations, NCUA Chair Todd Harper continues to argue for the need of in person audits and the budget to go with them.

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NCUA Board: Share Insurance Fund Remains Healthy

NCUA Board: Share Insurance Fund Remains Healthy

The National Credit Union Administration’s Share Insurance Fund remains strong even though the agency’s equity ratio is below the normal rate set by the NCUA board, Eugene Schied, the agency’s CFO said during the February NCUA board meeting. Other issues were also discussed, reports David Baumann of the Washington Credit Union Daily.

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Facts vs. Fictions: the NCUSIF Financial Model Works—Even When Mismanaged

Facts vs. Fictions: the NCUSIF Financial Model Works—Even When Mismanaged

Chip Filson compares the NCUSIF’s projected net operating loss against the actual data and discusses potential ramifications for the variance in these numbers.

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NCUA Board Sets NOL at 1.33%, Adopts Compromise Budget

NCUA Board Sets NOL at 1.33%, Adopts Compromise Budget

The NCUA board agreed to a compromise budget that will return $15 million to credit unions next year and set the agency’s normal operating level at 1.33% for 2022, reports David Baumann of the Washington Credit Union Daily. The NCUA board also made decisions on final rules for the capital adequacy regulation and mortgage servicing rights.

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NCUA Board Agrees to Solicit Comments on Capital Adequacy Changes

NCUA Board Agrees to Solicit Comments on Capital Adequacy Changes

The NCUA board agreed to solicit comments on a proposed rule that would amend the agency’s capital adequacy regulation governing credit unions with assets over $500 million, among other decisions at its July meeting, reports David Baumann of the Washington Credit Union Daily.

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NCUA Equity Ratio Dips to 1.22%, But Board Says Restoration Plan is Not Needed Yet

NCUA Equity Ratio Dips to 1.22%, But Board Says Restoration Plan is Not Needed Yet

The National Credit Union Administration’s Share Insurance Fund’s equity ratio is expected to dip to 1.22% by the end of June, but the agency board decided Thursday not to require the development of a fund restoration plan, reports David Baumann of the Washington CU Daily. The Board also discussed its Normal Operating Level policy at its May meeting.

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A Simple Solution for NCUSIF Revenue

A Simple Solution for NCUSIF Revenue

Chip Filson dives into the numbers to evaluate the NCUA’s management of the NCUSIF, and whether changes should be made to their current investment strategy.

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The $3.0 Billion Question in 2021 for Credit Unions and NCUA

The $3.0 Billion Question in 2021 for Credit Unions and NCUA

“When government gets more money, it wants to spend more,” warned Ed Callahan in 1984. Chip Filson calls on credit unions to hold NCUA’s feet to the fire when it comes to returning AME surpluses to credit unions.

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NCUA’s Dire Warnings for NCUSIF: Credit Unions Must Pay Attention

NCUA’s Dire Warnings for NCUSIF: Credit Unions Must Pay Attention

Does the NCUA Board have a solid grasp of the NCUSIF? Chip Filson doesn’t believe so, and warns that credit unions must watch over their investment more carefully or be swept away in rampant government spending.

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Central Liquidity Facility: The One Thing Necessary

Central Liquidity Facility: The One Thing Necessary

If the Federal Home Loan Bank (FHLB) and Central Liquidity Facility (CLF) are both “lenders of last resort” why is the CLF deemed so unappealing? How is the FHLB system so much more relevant for credit unions than their own liquidity backstop? Chip Filson might know why.

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