The NCUA board of directors will hold its monthly board meeting this week, on Thursday, Sept. 23. The virtual meeting, which will include discussion of a proposed rule on subordinated debt, will begin at 10 a.m. and will be streamed live on the agency’s website.
The NCUA board previously approved a final rule that amends various parts of the NCUA’s regulations to permit low-income designated credit unions, complex credit unions and new credit unions to issue subordinated debt for purposes of regulatory capital treatment, at its December 2020 meeting. That rule becomes effective Jan. 1, 2022.
The following items are listed on the board’s agenda this week:
- Board briefing, Share Insurance Fund quarterly report;
- 2021 mid-session budget;
- Oregon member business lending rule;
- NCUA board agenda (no explanation provided); and
- Proposed Rule, 702 and 703, Subordinated Debt.
Results from the meeting will be reported in the New York Minute.
New post-examination survey
In other NCUA news, the agency announced last week that it is piloting a new post-examination survey that will allow credit unions to provide timely feedback to the agency while helping to standardize the feedback process. Credit union feedback helps the NCUA evaluate the effectiveness of its examination processes, and also improves communication with credit unions, the agency said in a letter to credit unions.
Beginning today through March 31, 2022, federal credit union managers or CEOs will receive a link to the post-examination survey from the NCUA’s ombudsman at the conclusion of a regular examination, and credit unions will have 15 days to submit responses. The survey will not be sent at the conclusion of a follow-up examination or supervision contact, and participation is optional, according to the agency.