ALEXANDRIA, Va. –NCUA is reminding the comment period on the Overhead Transfer Rate Methodology is now open and will run through Feb. 20, 2024.
As CUToday.info reported, the NCUA board unanimously approved the issuance of a notice and request for comment on the existing Overhead Transfer Rate (OTR) methodology at its December 2023 meeting.
“The board is inviting comment on the NCUA's methodology to determine the OTR,” the agency said. “The request for comment clarifies the four principles for calculating the OTR and the various cost allocations associated with the calculation.”
The agency further reminded that in 2017 NCUA published in the Federal Register a request for comment regarding a revised OTR methodology based on the board's internal assessment and comments received from a 2016 request for comment.
‘The Primary Goal’
“The primary goal of the proposed changes to the OTR methodology at that time was to simplify the methodology and reduce the resources needed to administer the OTR,” NCUA said. “The board committed to subjecting the four principles to public comment every three years and in the event the board proposes a change to one or more of the principles.”
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