Dear Board of Directors and Chief Executive Officer:
New regulatory requirements associated with NCUA’s final rule on Liquidity and Contingency Funding Plans
(Part 741.12) will become effective on March 31, 2014. These new requirements will apply to all federally insured credit unions except for corporate credit unions.1
For a complete overview of the requirements, please refer to NCUA Letter to Credit Unions, Guidance on How to Comply with NCUA Regulation §741.12 Liquidity and Contingency Funding Plans (13-CU-10), which was issued in October 2013.2
Enclosures in this new letter provide further insight into NCUA’s plans to examine for compliance. NCUA has developed the enclosed Supervisory Letter and examination questionnaire for examiners to use when reviewing liquidity risk management at credit unions.
If you have any questions about liquidity and contingency funding plans, I encourage you to contact your regional office or state supervisory authority.