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NCUA Chairman Debbie Matz stresses importance of FSOC’s credit union report

140px-US-NationalCreditUnionAdmin-Seal.svgNational Credit Union Administration Chairman Debbie Matz urged credit unions to take notice of the topics presented in the Financial Stability Oversight Council’s annual report released last week.

The FSOC recommended in its report that regulatory agencies continue to analyze how potential interest rate fluctuations could adversely affect risk profiles, emphasized the importance of capital and liquidity buffers as the “most fundamental protection for the broader financial system” and noted the increased emergence and rapidly changing threat of cyber-attacks.

“As the supervisor and insurer of the credit union system, NCUA takes these recommendations and the analysis of emerging risks very seriously,” Matz said. “A number of the risks identified and recommendations are consistent with our regulatory and supervisory priorities, and the report reinforces and reaffirms the critical nature of these priorities. Every recommendation in this report is meaningful to the credit union industry; because financial stability and a healthy, growing economy are critical to the success of the industry.”

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