NCUA listening session reveals plan to extend RBC phase-in period
Tuesday, July 15, 2014
Last Thursday, July 10, NCUA Chairman Debbie Matz stated that the final risk-based capital rule would include a longer implementation period than eighteen months, but emphasized “that no matter how long we extend it, it will never be enough.”
Matz also noted the proposed RBC rule would require roughly 200 credit unions to raise, at most, $633 million to retain well-capitalized status, not the $7 billion dollar figure that CUNA projected.
Additionally, Matz mentioned that agricultural lending issues would be addressed in the final rule, as currently, the proposed rule would adversely affect credit unions’ ability to lend to farmers, particularly in the Midwest.
To read more highlights from the NCUA listening session, see the Credit Union Times article here. For questions regarding the proposed RBC rule, please contact CCUL Compliance at firstname.lastname@example.org.