NCUA Indicates CAMEL Codes Keep Getting Worse

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The episode covers the potential economic risks for credit unions, with a focus on the increases in Camel Code 3s. Mark Treichel recaps NCUA Chairman Todd Harper's warning about high levels of interest rate risk, liquidity risks, and asset quality deterioration. Also discussed are trends in Camel Code ratings, credit union safety and soundness, and the necessary reserves in anticipation of potential cash payouts. The episode also delves into a discussion about NCUA's budgeting, exploring views on the shifting of resources from safety and soundness to consumer compliance.

00:00 Introduction and Overview
00:15 The Rise in Total Assets for Composite Campbell's Code 3 Billion Plus Credit Unions
01:13 Introduction to the Podcast Host
01:42 The NCUA Board Meeting and the State of the Chair Insurance Fund
02:14 The Increase in Dollars in Complex Credit Unions
03:12 The Impact of Large Credit Unions with a Code 3 on the Insurance Fund
03:39 The Share Insurance Fund's Performance in the Third Quarter of 2023
04:44 The Rising Risks within the Credit Union System
05:05 The Impact of Federal Student Loan Repayments, Rising Costs for Property and Casualty Insurance
05:57 The Growth of Insured Shares in Camel's Code 3 Credit Unions
06:39 The NCUA's Monitoring of Credit Union Performance and Mitigation of Risk
08:11 The NCUA's Methodology for Reserving for Potential Losses for the Share Insurance Fund
12:31 The Impact of Becoming a Code 3 or Code 4
14:15 The NCUA's Budget and Its Impact on Credit Unions
17:02 Conclusion and Final Thoughts