NCUA's Too Big To Fail Regulation: "It's Not Reg Relief"

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NCUA Board Approves Threshold for Determining the Appropriate Supervisory Office

NCUA raised the threshold of who reports to the Office of National Exams & Supervision to $15B. NCUA makes it clear this is not regulatory relief and simply a budget saver. In this episode I talk about the missed opportunity for reg relief and whether or not this is really a budget saver (the devil is in the details).

The NCUA Board approved final that amends the NCUA’s regulations to change the $10 billion asset threshold for assigning federally insured credit unions to the Office of National Examinations and Supervision (ONES).

“With the rapid balance sheet growth across the credit union system since the onset of the pandemic, especially for the largest of credit unions, recalibrating the threshold was always a question of when, not if,” Chairman Harper said. “Approval of the final rule is a significant acknowledgement of the industry’s ongoing maturation and the evolving role the NCUA plays in supervising and insuring our nation’s largest credit unions. This change provides for new development opportunities for examiners, providing a smoother transition for consumer credit unions that will eventually transfer to ONES’ supervision, and enhancing knowledge sharing and expertise between ONES and regional staff.”

Effective January 1, 2023, credit unions with assets between $10 billion and $15 billion will be supervised by their appropriate Regional Office. All credit unions above $10 billion in assets currently supervised by ONES will continue to be supervised by that office under the final rule. Credit unions that cross the $15 billion threshold will by supervised by ONES. The proposed rule does not alter any other regulatory requirements for credit unions covered under these regulations.

ONES began operations in 2013 and oversees the largest and most complex credit unions in the credit union system. It also supervises the corporate credit union system.

https://www.youtube.com/watch?v=bj7kUqbc2o4&t=3938s

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