Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NCUA Notes FSOC Recommendations That Affect CUs
ALEXANDRIA, Va. (4/29/13)--The Financial Stability Oversight Council's 2013 Annual Report, released late last week, features three regulatory recommendations credit unions should be aware of, National Credit Union Administration Chair Debbie Matz said Friday.

"As the supervisor and insurer of the credit union system, NCUA takes these recommendations and the analysis of emerging risks very seriously. A number of the risks identified and recommendations are consistent with our regulatory and supervisory priorities, and the report reinforces and reaffirms the critical nature of these priorities," Matz added.

The FSOC report:

  • Recommends that regulatory agencies continue their scrutiny of how potential changes in interest rates could adversely affect risk profiles;
  • Emphasizes that capital and liquidity buffers form the most fundamental protection for the broader financial system; and
  • Notes that operational risks, including cyber-security risks, are an emerging and rapidly changing threat.
For the full NCUA release, use the resource link.

The Credit Union National Association is reviewing this report and will be following up with NCUA to further spotlight credit unions efforts in these areas. "To the second point, the ability of credit unions to have access to supplementary capital, which NCUA supports, would provide additional protection to credit unions and the National Credit Union Share Insurance Fund," CUNA Deputy General Counsel Mary Dunn said.


RSS





print
News Now LiveWire
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
12 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
13 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
13 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
14 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
15 hours ago