N C U. S discussed on C-SPAN Programming

Automatic TRANSCRIPT

Nation's credit even system was well capitalized at the start of the pandemic remains so today with high levels of network and ample liquidity. This strength has allowed credit. He has to adapt to the operational challenges resulting from the pandemic, total assets and federally insured, crediting his rose 18% over the year aiding in the second quarter 2020 to $1.75 trillion Credit even shares. The deposits rose by nearly 17% to $1.49 trillion since mid March, is furious works diligently to provide credit things with regulatory relief and much flexibility so they can continue to safely serve their member owners. We've also adjusted our examination program to particular staff, and we all continue to work remotely and effectively. We continue to examine for compliance with the bank Secrecy Act and potential cyber security risk helping to ensure our credit union sister remains secure and resilient. We've issued 11 interagency statements and 20 guidance letters to the industry to date. Hoping credit means to address emerging risk and implement the regulatory and statutory changes that have been made in response to the pandemic. The N C U. S provided over $3.7 million in technical assistance to small low income and minority credit issues in the former guard, 2020 Community Development Revolving loan fund allocation. Which went directly to covert 19 assistance. The credit even systems network increased 6.8% over the years to $182.9 billion. The aggregate net Worth Raceway for the system stood at 10 point or 6%. Well above the 7% statutory requirement. The sheer insurance fund is also strong and the equity racial remains well within the statutory.

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