NCUA board to consider 2022–2023 budget next week

The NCUA has released its agenda for the agency’s upcoming board meeting on Thursday, Dec. 16, at 10 a.m. During the meeting, the agency will consider the agency’s proposed 2022–2023 draft staff budget.

During a budget briefing on Wednesday, Vice Chairman Kyle Hauptman and Boardmember Rodney Hood indicated they will have difficulty supporting the agency’s 2022–2023 proposed staff draft budget when it comes before the board at its meeting next week, with Hood calling it a “non-starter,” according to CUTODAY.

The board will also consider:

  • Share Insurance Fund 2022 normal operating level;
  • final rule, parts 702 and 703, complex credit union leverage ratio;
  • final rule, part 703, mortgage servicing assets; and
  • final rule, parts 702 and 741, subordinated debt.

Regarding the proposed subordinated debt final rule, at its September meeting, the board of directors proposed an amendment that would allow low-income designated credit unions to issue secondary capital approved in 2021, irrespective of the date of issuance, provided the issuances are to the United States government or one of its subdivisions, according to the agency.

The meeting will be streamed live on NCUA’s website, and results will be reported in The New York Minute.

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