According to the agency, 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.
“Chairman Matz held listening sessions on RBC this past summer and has displayed that she indeed did listen to our credit unions impacted by the proposed rule,” said Sean Hession, ICUL CEO. “She has gone beyond the ‘required’ to the ‘sensible and appropriate’ displaying true leadership on this issue.”
Chairman Matz cited the significant structural changes that would exceed the parameters of the ‘Administrative Procedure Act’ as the basis for her supporting another comment period. She anticipates that the NCUA board could issue an amended proposal before the end of 2014.