Following last Thursday's NCUA board meeting, all credit unions are invited to participate in a free NCUA webinar about the proposed voluntary prepaid Corporate Stabilization Fund assessments program at 4 p.m. EDT May 26.
The NCUA proposed the voluntary prepaid assessments on May 19. The proposal responds to requests to explore a program of prepaid, or advanced, assessments for the Temporary Corporate Credit Union Stabilization Fund similar to a program adopted by the FDIC in 2009. The voluntary prepaid assessments proposal seeks to improve the liquidity of the Stabilization Fund and would permit credit unions to use excess funds to aid in managing corporate resolution cash flow needs over the next two years. For a greater explanation to the proposed program, check out this
outline from the NCUA. The NCUA board is also looking for comments on the program to measure interest and ensure the effective operation of the voluntary prepaid assessments program.
For those already registered for the webinar immediately preceding, “Current Allowance for Loan and Lease Losses Exam Issues and Practical Ways to Factor Q&E Adjustments into the Methodology,” you will not need to re-register. Just stay online at 4 p.m. and do not close your browser. Those only interested in the voluntary prepaid assessments proposal should log in at 4 p.m.
The webinar will be archived on the NCUA website two weeks after the event for those who cannot attend live.