League Sources Reveal NCUA Board Changes for 2017
League sources have provided some insight on items of interest from today’s NCUA Board meeting for 2017:
- There will be a $1 million decrease in the overall budget.
- The NCUA will institute an 18-month exam cycle for credit unions below $1 billion in assets that carry a CAMEL 1 or 2 rating. The other exam changes proposed in September will also be accepted (virtual exams, etc.), but I am told that this is simply a “first bite” and we should expect further refinements next year.
- The Overhead Transfer Rate will be set at 67.7. That’s a change from the 2016 rate of 73.1.
- There will be a discussion of a premium assessment of between 3-6 basis This assessment will NOT occur now, but is expected sometime after Q1 next year.