May 14, 2021 NASCUS Report
Posted May 14, 2021THIS WEEK: TWO KEY COMMENTS: Opposition to RBC simplification proposal … Support for ‘S’ in CAMEL; Final derivatives rule, NCUSIF action set; Dozen rules earmarked for review in ’21; Legal opinion sets bounds for share insurance; Webinar to explain ECIP; New acting comptroller will look at regulatory standards; Pipeline disruption, gas shortage underscore cybersecurity importance; BRIEFLY: CDFI webinar set; Regulators to testify; Trades oppose debt collection legislation
Key comments: Opposition to provisions of RBC simplification proposal
(May 14, 2021) Two significant comment letters were submitted this week by the state system, on simplification of risk-based capital requirements and on adding an “S” for sensitivity to market…
Key comments: Support for adding ‘S’ for ‘sensitivity’ to exam rating system
(May 14, 2021) Moving expeditiously on adding a “market risk sensitivity” component to the credit union examination system – that is, adding an “S” to “CAMEL” – would better align…
Final derivatives rule, insurance fund actions, on board agenda
(May 14, 2021) A final rule on investments in derivatives by credit unions, and two items that could have a significant impact on a savings insurance premium for credit unions,…
Agency earmarks 12 rules for review this year
(May 14, 2021) Rules of NCUA Board procedure (including public observation of meetings), registration of residential mortgage loan originators, procedures for debt collection and post-employment restrictions for certain NCUA examiners…
Opinion sets bounds for how share insurance applies
(May 14, 2021) Whether share insurance applies to a credit union share certificate purchased by a limited liability corporation (LLC) depends in part on who owns the funds and whether…
May 24 webinar set to explain capital investment program
(May 14, 2021) NCUA is encouraging credit unions to participate in a May 24 webinar explaining (and answering questions about) the U.S. Treasury’s Emergency Capital Investment Program (ECIP), which has…
New acting comptroller vows review of ‘regulatory standards’
(May 14, 2021) The OCC has – once again – a new leader, who said this week he would soon conduct a review of “regulatory standards” at the agency. Michael…
Cyber security need underscored by pipeline hack, shortages
(May 14, 2021) If you were one of the unfortunate but countless number of folks sitting in line at the gas pumps this week – wondering “what can I do…
BRIEFLY: NCUA, CDFI Fund set webinar on small-dollar loan program; Regulators to testify; Trades oppose debt collection legislation
(May 14, 2021) The small-dollar loan program of the Treasury’s Community Development Financial Institution (CDFI) Fund related to credit unions is the subject of a webinar planned for May 27 by…
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