Omnibus to require NCUA to study MSAs under RBC

The omnibus agreement released Tuesday night by lawmakers addresses not just cybersecurity information sharing. It also includes a NAFCU-backed provision requiring NCUA to report to Congress on what are appropriate capital requirements for mortgage servicing assets related to its risk-based capital rule.

NCUA would have to report to Congress within six months on what impact the agency’s final rule will likely have on credit union mortgage servicing assets, or MSAs, and credit unions’ ability to compete with others in the marketplace. Other banking regulators will conduct a similar study for banks using Basel requirements.

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