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Federally Insured Credit Union Use of Distributed Ledger Technologies
Manage episode 412826519 series 3543943
Το περιεχόμενο παρέχεται από το Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc.. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
Understanding NCUA's Guidance on Credit Unions and Distributed Ledger Technologies
This episode, hosted by Samantha Shares, delves into the NCUA's letter to credit unions (22-07) regarding the use of Distributed Ledger Technologies (DLT). Aimed at federally insured credit unions, the letter highlights how the NCUA supports the adoption of financial technologies that help improve services, while advising credit unions to approach DLT with sound governance and risk management. It clarifies that DLT is not prohibited but must be used in compliance with applicable laws, and stresses the importance of due diligence in evaluating DLT's risks and benefits. This guidance is aimed to aid credit unions in leveraging DLT responsibly and effectively, ensuring they remain competitive and continue to serve their members' needs safely.
00:00 Welcome and Introduction
00:49 Overview of NCUA's Letter on DLT Use
01:22 Key Considerations for Credit Unions Using DLT
03:31 Governance, Oversight, and Planning for DLT
04:41 Risk and Risk-Mitigation Strategies
06:15 Information and Cybersecurity Risks
06:57 Legal and Compliance Risks
07:47 Strategic, Reputation, and Liquidity Risks
08:29 Third-Party Risk Management
08:52 Conclusion and Final Thoughts
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