At the NCUA’s board meeting on Dec. 13, the board approved lowering the normal operating level (NOL) from 1.39 to 1.38 percent. The NCUA stated the increase in the NOL was necessary while the share insurance fund holds corporate legacy assets and said that the NOL would be phased down to 1.3 percent by 2021.
Also at the meeting:
- The board received a final report from the agency’s regulatory reform task force. The report provides a road map for regulatory actions in 2019, and it will be published in the Federal Register.
- The board also received a briefing on blockchain and distributed ledger technology. The report discussed technological innovations as well as opportunities and risks for credit unions.
- The board issued a final rule on technical amendments to correct minor errors and inaccurate citations in NCUA’s regulations.
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