Upcoming NCUA Board Meeting: Insurance Fund Equity Distributions

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The National Credit Union Administration’s (NCUA) February board meeting agenda for this coming Thursday (Feb. 15) includes an item on the Final Rule for Share Insurance Fund Equity Distributions, as well as a discussion of the 2017 Share Insurance Fund Equity Distribution.

Last year the agency issued a proposed rule that would add a temporary provision to govern National Credit Union Share Insurance Fund (NCUSIF) equity distributions resulting from the Corporate System Resolution Program. For purposes of this temporary provision, any NCUSIF equity distributions declared for calendar years 2017 – 2021 would be deemed to be ‘‘resulting from the Corporate System Resolution Program.’’

In the proposed rule, the board considered making any NCUSIF equity distributions related to the Corporate System Resolution Program on either a first-in/first-out (FIFO) or a last-in/first-out (LIFO) basis. The board is expected to issue a final rule on Thursday.

Any NCUSIF equity distributions would be based on year-end 2017 call report data, how much the equity ratio is over the Normal Operating Level of 1.39 percent, and the distribution formula in the final rule.

NCUA’s board meeting will be held on Thursday, Feb. 15 at 7 a.m. (Pacific). It will be broadcast “live” at www.ncua.gov. Open board meetings are also tweeted on Twitter at @TheNCUA.

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