NCUA Chairman Debbie Matz said late Tuesday the agency willintroduce a proposed rule on credit union use of derivatives during the first half of 2013.
|The regulator first requested comment on the topic in June 2011,and sought further input with a formal 60-day comment period inJanuary 2012.
|“The staff has worked closely with a credit union communityworking group. This issue is so very complicated and we want to getit right,” Matz said during a webinar that also included ConsumerFinancial Protection Bureau Director Richard Cordray.
|Matz said the NCUA will consider allowing credit unions with theappropriate expertise in derivatives to use the tool to hedgeagainst interest rate risk.
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