The NCUA intends to fully implement its extended exam cycle process for federally insured credit unions by the end of 2018, the agency said in its list of supervisory priorities for next year.
Examiners will continue to use streamlined small credit union exam program procedures for institutions with assets of up to $50 million and CAMEL ratings of 1, 2, or 3, board Chairman J. Mark McWatters said, in a letter to credit union officials.
“For all other credit unions, examiners will conduct risk-focused examinations, which concentrate on the areas of highest risk, new products and services, and compliance with federal regulations,” McWatters said, in the letter.
To read McWatters’ letter, click here to be taken to NCUA’s website.