NAFCU posts NCUA listening session recording

A recording of the NCUA listening session in Los Angeles last Thursday – which focused on the agency’s proposed risk-based capital rule – is available on NAFCU’s website.

NAFCU attended the session, along with representatives from more than a dozen NAFCU member credit unions, to ask NCUA Board Chairman Debbie Matz and other agency staff about the proposal.

During the questioning, Matz said the agency would reexamine the risk weights in its proposed risk-based capital rule. She also said a second comment period for the proposal is unlikely, but that they will take it “under advisement,” and that the implementation period for any rule would be longer than 18 months.

NAFCU Board Member and Caltech Employees Federal Credit Union President and CEO Richard Harris emphasized the need for a second comment period. CBC Federal Credit Union President and CEO Patrick Miller asked NCUA to revisit the definition of a complex credit union under the proposal.

NCUA staff also told attendees that interest rate risk may be accounted for through means other than the proposed rule; see full story.

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