I hope everyone’s new year is still going well, and I hope you are all on track to meet your new year’s resolutions. For their upcoming resolutions, on January 18, 2022, NCUA issued Letter to Credit Unions 22-CU-02 outlining NCUA’s supervisory and examination priorities for 2022. These priorities are discussed below.
Credit Risk Management
A repeat priority for NCUA. NCUA plans “to review credit unions’ credit risk-management and mitigation efforts.” NCUA will continue to focus on “reviewing policies on loan workout strategies, risk-management practices, and strategies to provide funds to distressed borrowers, including programs authorized under the CARES Act and Consolidated Appropriations Act, 2021.” NCUA notes that its “examiners will evaluate controls, reporting, and tracking of those programs.”
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