Asset Thresholds Pertaining to Large Credit Unions

The interim final rule would temporarily mitigate costs on large credit unions related to complying with heightened regulatory and supervisory requirements, at a time when credit unions are incurring costs and unusually high deposit growth related to the COVID-19 pandemic. The interim final rule will permit federally insured credit unions (FICU) to use asset data as of March 31, 2020, in order to determine whether the institution is subject to capital planning and stress testing requirements under the NCUA’s regulations and supervision from the Office of National Examinations and Supervision. This relief is applicable for the calendar years 2021 and 2022. Under the interim final rule, asset growth in 2020 would not trigger new regulatory requirements under part 702 until January 1, 2023, at the earliest.