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NCUA says extended exam cycle could begin in 2017

The National Credit Union Administration might move federalcredit unions with less than $1 billion in assets to an extended examinationcycle in 2017.

The recommendation, which was suggested by the agency's ExamFlexibility Initiative working group and will apply to well-managed andlow-risk federal credit unions, is pending approval from the NCUA board.

The group made 10 recommendations, which the board plans toconsider during its Nov. 17 open meeting as part of the agency's 2017–2018budget.

If the board approves, the extended exam cycle recommendationwill take effect Jan. 1, 2017. In addition, the agency may increase examinationstandards for small federal credit unions and exam coordination for federallyinsured, state-chartered credit unions, effective Jan. 1, 2017, if the boardapproves.

Furthermore, the agency might establish an NCUA and statesupervisors working group Jan. 1, 2017, pending approval.

The release added that the NCUA might choose to improve itsexamination planning process and issue a post-exam survey July 1, 2017, if theboard approves.