Comment period for climate-related financial risks to credit unions RFI now open
ALEXANDRIA, VA (April 27, 2023) — The NCUA Board approved on April 20 a request for information seeking comments on current and future climate and natural disaster risks to federally insured credit unions, related entities, their members, and the National Credit Union Share Insurance Fund.
The comment period is now open, and comments are due by June 26, 2023.
The NCUA is seeking input that would strengthen its ability to identify and assess credit unions’ current and future climate and natural disaster risks. The NCUA is also seeking stakeholder comments on opportunities to enhance its supervision and regulation of each regulated entity’s management of such risks.
In addition to seeking stakeholders’ views and experiences on the current and future climate and natural disaster risks faced by federally insured credit unions, commenters are encouraged to provide comments on any and all relevant issues they believe the Board should consider with respect to the financial risks associated with climate change. This includes, but is not limited to, risks posed to, or stemming from, field of membership, lending, investments, other assets, deposits, underwriting standards, insurance coverage, liquidity, and capital.
The climate-related financial risk notice is posted to the Federal Register with a 60-day comment period.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.