90-Day Public Comment Period Anticipated on Proposed Rule
ALEXANDRIA, Va. (Nov. 21, 2014) – National Credit Union Administration Board Chairman Debbie Matz today announced that she intends to request that the NCUA Board consider a revised proposed risk-based capital rule at the open NCUA Board meeting scheduled for Jan. 15, 2015.
“During the six months since the comment period closed on the original proposed rule, we’ve taken the time to carefully review and methodically evaluate the many thoughtful comments received from stakeholders,” Matz said. “We’ve also considered the input received during three Listening Sessions across the U.S. this summer. We’re getting closer to issuing the revised proposed rule, which I now anticipate will be presented in January 2015—one year since the original proposed rule.
“To provide the public ample time to review this important safety and soundness rulemaking, I intend to support a 90-day comment period.”
Based on stakeholder comments, the amended proposal will include a longer implementation period and revised risk weights for mortgages, investments, member business loans, credit union service organizations and corporate credit unions, among other changes. Stakeholders will also be invited to comment on an alternative approach for addressing interest rate risk using the supervisory process.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share
Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of
state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.