A new, interactive online Examiner's Guide from the National Credit Union Administration (NCUA) is intended to provide "up-to-date, comprehensive supervisory guidance on key regulatory and supervisory issues" affecting the credit union system.
According to NCUA, that the guide's new online format allows readers to easily navigate to topics of interest, search for content using keywords and connect more easily to resources provided by NCUA and other regulatory agencies. The guide also includes a feedback button, allowing stakeholders to provide input and suggestions for additional clarification. The online structure is also intended to allow NCUA to update the guide continuously as new laws and regulations go into effect.
Along with the launch of the online Examiner's Guide NCUA is also issuing updated guidance on four topics: interest rate risk, risk-focused examinations, total analysis process and fidelity bond coverage. The guide will also eventually include updated guidance on member business lending, consumer and real estate loans, ALM, fraud and other topics.
"Providing greater clarity on how NCUA evaluates credit union operations will reduce potential conflicts that may arise in the examination process and improve overall safety and soundness," said NCUA board chairman Rick Metsger in a statement. "Making NCUA's operations more effective and efficient is the goal of my Continual Quality Improvement initiative, and the online Examiner's Guide is another example of how the agency can use technology to achieve this goal."
The announcement garnered the praise of at least one trade organization.
The National Association of Federal Credit Unions "appreciates NCUA improving the format of the Examiner's Guide, a move that NAFCU has long advocated for."
Along with the new Examiner's Guide, larger exam changes are also in the works.
