Press
McWatters statement on new comment period for revised Risk-Based Capital Rule
ALEXANDRIA, VA (Sept. 29, 2014) – National Credit Union Administration Board Member J. Mark McWatters today commented on the decision of Chairman Debbie Matz to open a new comment period on a revised risk-based capital proposed rule. McWatters’ comments follow:
“I am pleased that the Chairman has agreed to a new comment period for the proposed risk-based capital rules. As I stated last week, I will not consider the rules for adoption unless they are re-proposed with a robust comment period of not less than 60 to 90 days. I articulated this position out of respect for Congress and those members of the credit union community who have enthusiastically voiced their opposition to the proposed rules.
“That said, the previously proposed risk-based capital rules are deeply flawed and merit substantial revision. The devil is in the details, and I await the details before I can pass judgment on the next draft of the proposed rules.”
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