National Credit Union Administration Chairman Todd M. Harper spoke at Connect 2023, the MD & DC Credit Union Association’s annual meeting and convention today. During his remarks, Chairman Harper discussed the safety and soundness of the credit union system, interest rate and liquidity risk, the NCUA’s recent Request for Information on climate-related financial risk, the NCUA’s recently proposed rule on charitable donations accounts, and cybersecurity risks facing the financial services sector.
“The good news is that the credit union system overall remains well positioned at this time to handle any economic disruptions and market uncertainty,” Harper said. “What’s more, the NCUA is well positioned through the supervisory process to address any issues that may arise from broader market concerns about liquidity in the financial services sector. We will continue to monitor credit union performance through the examination process, offsite monitoring, and tailored supervision. In addition, the agency is coordinating with other federal financial institution regulators to ensure the overall resiliency and stability of our nation’s financial services system.”
Chairman Harper’s full remarks are available on NCUA.gov.