Is NCUA ready to supervise a credit union that conduct its own stress test?

by. Keith Leggett

The transcript from the April 24 NCUA Board meeting makes it pretty clear that NCUA does not have the staffing or resources to supervise a credit union that conducts its own stress test.

NCUA Chariman Debbie Matz asked Scott Hunt, the head of the Office of National Examinations and Supervision, the following questions.

“The final rule provides that three years after enactment, a credit union can apply to conduct their own stress test. Does your office have the necessary staffing to supervise that if you agree that a $10 billion credit union at that point can do their own stress test? Are you staffed to handle that?”

You have to go to the fourth paragraph of his response to get the answer, which is no.

Scott Hunt said: “So basically it would pull together both personnel resources, information data gathering as well as an investment in software that we don’t have today so the short answer on that is no, we are not ready to take this on.”

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