Risky business: A look at the NCUA's supervisory priorities for 2023
The National Credit Union Administration is narrowing its focus to address the risks that are most pertinent to credit unions facing an unpredictable economy.
The NCUA released its annual list of supervisory priorities last week, placing risks surrounding interest rates, liquidity and credit as prime areas of concern for individual credit unions and the agency. This year's grouping of six core areas is a noticeable decrease from the agency's listing of 11 key topics in 2022.
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Todd Harper, chairman of the NCUA, explained how the agency honed its focus by using feedback from examiners and financial shifts in the industry to whittle down the scope of its docket.
"It's possible to have too many priorities, so what we wanted to do this year is make sure that we were focusing on those key things based on what we were hearing from our examiners in the field, what we were seeing with changes in the economic environment, where there were issues of interagency focus as well as where we were hearing potential complaints," Harper said.
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