NCUA issues corporate CU proposal, discusses CECL policy

The NCUA board issued a corporate credit union proposal, adopted a final interagency policy statement on the current expected credit loss (CECL) standard at its Thursday meeting. The board also heard briefings on credit union mortgage rates and the National Credit Union Share Insurance Fund.

The corporate credit union proposal is intended to update, clarify, and simplify several provisions of the corporate credit union regulation.

Specifically, it would:

• Permit a corporate credit union to make a minimal investment in a CUSO without the CUSO being classified as a corporate CUSO under NCUA’s rules;

 

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