Also: Senate confirms Yellen as Treasury Secretary; NAFCU's Long details what possible RBC changes could mean for CUs
NAFCU TODAY | The News You Need Daily.
January 26, 2021
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Harper named NCUA Board chair; NAFCU follows up with key issues [ [link removed] ]
President Joe Biden Monday named Todd Harper as NCUA Board chair. NAFCU President and CEO Dan Berger spoke with Harper after the announcement to congratulate him on the appointment. The two discussed NAFCU's strong working relationship with the NCUA and opportunities to strengthen the credit union industry.
Following Senate confirmation, Yellen to serve as Treasury Secretary [ [link removed] ]
The Senate Monday, via a 84-15 bipartisan vote, approved the nomination of former Federal Reserve Chair Janet Yellen to serve as Treasury Secretary. NAFCU worked closely with Yellen during her time on the Federal Reserve Board, including meeting with her at the Fed's headquarters.
NAFCU's Long: What NCUA's ANPR on RBC means for CUs [ [link removed] ]
In a new post on the association's CFO Network, NAFCU Chief Economist and Vice President of Research Curt Long detailed the NCUA's recent advanced notice of proposed rulemaking (ANPR) on risk-based capital (RBC). The NCUA approved the ANPR board’s January meeting and is seeking feedback on simplification of the RBC rule, scheduled to take effect in 2022.
NAFCU monitoring FOMC’s first 2-day meeting of 2021 [ [link removed] ]
The Federal Open Market Committee (FOMC) – the Fed's monetary-policy setting arm – begins its first meeting of 2021 today and is expected to hold the federal funds target rate range at its current 0 percent to 0.25 percent for the foreseeable future.
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