NCUA Board Approves Final Rules on CUSOs and CAMELS Rating System, Briefed on Cybersecurity

Through a live webcast, the National Credit Union Administration Board held its ninth open meeting of 2021 and approved two items, as announced in a recent press release:

• A final rule that adds the sensitivity to market risk or “S” component to the existing CAMEL rating system and redefines the liquidity risk or “L” component.
• A final rule that expands the list of permissible activities and services credit union service organizations or CUSOs are allowed to engage in.

In addition, the NCUA Board received a semiannual briefing on cybersecurity risks confronting credit unions and the financial services sector.