The NCUA's amended and long-awaited loan participation rule will be unveiled this week.
|“NCUA Board members agreed today to add the Final Rule on LoanParticipations to the agenda for consideration this Thursday,”Public Affairs Specialist John Fairbanks said Tuesdayafternoon.
|The board meets Thursday at 10 a.m. at the NCUA headquarters inAlexandria, Va.
|The rule, proposed back in December 2011, would limit loanparticipations from a single originator to 25% of net worth. Thecap would have a negative effect on credit unions that participatein CUSOs that manage loan participations, critics have said.
|NCUA Chairman Debbie Matz said during a May 2012 Town Hallmeeting that the regulator was planning to adjust the cap before issuing the final regulation. However,she did not say what the cap would be in the final rule.
|The meeting agenda also includes a proposed Illinois memberbusiness loan rule.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
