NAFCU issues Final Reg on NCUA’s ONES asset threshold determination

by NAFCU Newsroom
NCUA

NAFCU Monday sent a Final Regulation Alert to members breaking down the NCUA’s final rule that raises the asset threshold for assigning a consumer federally-insured credit union (FICU) to supervision by the NCUA’s Office of National Examinations and Supervision (ONES) from $10 billion to $15 billion.

The board unanimously approved the final rule during its July board meeting.

Through the Final Regulation, NAFCU notes:

  • the final rule does not contain the proposed grandfather clause because all covered credit unions currently supervised by ONES reported assets of $15 billion or more as of March 31, 2022;

 

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