NCUA headquarters. (Source: NCUA)
The NCUA board released its agenda on Thursday for the July 22 meeting – the final meeting before it takes a break until September.
The agenda items included the following:
- NCUA's 2022 – 2026 Strategic Plan.
- Request for Information and Comment, Digital Assets and Related Technologies.
- Notice of Proposed Rulemaking, Parts 702 and 703, Complex Credit Union Leverage Ratio.
While specific details of the agenda items were not provided, the "Complex Credit Union Leverage Ratio" item could be a contentious one. In January, during the final meeting as Chairman for Rodney Hood, two Risk-Based Capital requirement issues were proposed, including the issue of the complex credit union leverage ratio.
At the time, the board approved the proposed rule to increase the threshold for defining a credit union as "complex" from $50 million in assets to $500 million in assets.
During the January meeting, NCUA Risk Manager Kathryn Metzger revealed how credit union assets had dramatically climbed during the pandemic. As a result, using the $50 million threshold, an additional 284 credit unions would be subjected to any risk-based net worth requirement, according to NCUA rules.
While Hood explained that increasing the threshold would conform to his regulatory philosophy of "effective but not excessive" rules, Todd Harper, as board member, said he believed this proposal would lower capital standard during an economic crisis caused by the pandemic. Hauptman agreed with Hood on the issue.
The NCUA board meeting will take place at 10 a.m. EST on July 22. The public can watch the livestream of the meeting here.
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