NCUA released an update of its Automated Cybersecurity Evaluation Toolbox or ACET. The ACET is a resource designed to help credit unions — especially for small credit unions or credit unions with limited resources — understand cybersecurity preparedness levels.
The NCUA board will hear briefings on cybersecurity and the Central Liquidity Fund (CLF) at its Oct. 20 board meeting. The meeting will be streamed live starting at 10 a.m. via NCUA.gov. The board will also conduct a public briefing on its 2023-24 proposed budget Oct. 19.
NCUA invites credit unions to sign up for information on topics related to Call Reports and cybersecurity. Call Report information will specifically address the 5300 Call Report and the credit union profile.
Minority Depository Institution (MDI) credit unions experienced growth in membership, assets, and loans in 2021 as they continued to provide safe, fair, and affordable financial services to their members and communities, according to NCUA's report to Congress on MDI credit unions.
NCUA’s staff draft budget for 2023–2024 is now available on the agency’s website for review and comment. The staff draft budget has also been submitted for publication in the Federal Register, and the comment period is open until Oct. 28.
NCUA reminds federally insured credit unions impacted by Hurricanes Ian and Fiona of the availability of urgent need grants for eligible low-income institutions of up to $7,500 to low-income credit unions that experience sudden costs to restore operations interrupted storms.
CUNA supports NCUA efforts to minimize the impact of cyberattacks on the credit union system through early alerts and information sharing, it wrote in response to a proposal that would require federally insured credit unions to notify NCUA of “reportable cyber incidents” within 72 hours.
NCUA's Office of Examination and Insurance is hosting a webinar on the recently announced Simplified Current Expected Credit Loss (CECL) Tool. The one-hour live webinar will take place on Wednesday, October 12, beginning at 2 p.m. ET.
The NCUA board issued two proposals and heard a quarterly update on the National Credit Union Share Insurance Fund at its Thursday meeting. Agency staff project the share insurance fund equity ratio will be 1.30% for the six-month period ending Dec. 31, 2022.
NCUA will enter the third phase (Phase 3) of resuming its onsite operations on October 17, according to a Letter to Credit Unions (22-CU-11) issued this week. Onsite examination and supervision activity will resume in all locations under Phase 3.