Chairman Matz: New Manual Provides “Consistency and Clarity”
ALEXANDRIA, Va. (Nov. 2, 2012) – The National Credit Union Administration (NCUA) today released a public version of its new National Supervision Policy Manual (NSPM). The document describes the agency’s internal operations and procedures for supervisory staff.
“The new manual brings more consistency and clarity to NCUA’s supervisory operations and procedures across the country,” said NCUA Board Chairman Debbie Matz. “In the past, practices have sometimes varied by region, and we felt it was important to bring these processes into a framework to improve and standardize credit union supervision.”
The manual is the product of a two-year project to create uniform operations and procedures for supervision throughout the country and improve the agency’s ability to operate efficiently across regions. NCUA started training examiners on the procedures outlined in the NSPM in April and the training process continues.
“Credit unions have relayed to me they are already seeing exam consistency improvements since the NSPM procedures went live nationally in July of this year. NCUA will review and update the NSPM as warranted,” added Matz.
Certain sensitive parts of the new manual remain confidential and are not included in the released public version, as disclosure could impair NCUA’s ability to minimize losses to the National Credit Union Share Insurance Fund or negatively affect the agency’s ability to conduct effective supervision.
Credit unions already have access to NCUA’s Examiner’s Guide. The release of the NSPM, a companion to the Examiner’s Guide, furthers public access to information on NCUA’s internal policy for supervisory operations and procedures.
A copy of the new manual is available here
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than
99 million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.