NCUA Answers Call for Risk-Based Capital Hearings
NCUA Board Chairman Debbie Matz on Thursday announced she will host three Listening Sessions this summer in San Francisco, Chicago and Washington, D.C.
“This new series of Listening Sessions will be an opportunity for NCUA Board members and senior staff to hear directly from credit union officials about how we can further improve regulations, the exam process, and any other NCUA initiatives,” Matz said. “My previous Listening Sessions led to regulatory relief and streamlined examination reports. We are looking forward to another productive series of face-to-face meetings with credit union officials and stakeholders.”
Among the topics expected to be discussed is the NCUA’s proposed risk-based capital rule, which would add new capital requirements for federally insured credit unions with more than $50 million in assets. The sessions will take place before that rule is finalized, the NCUA said in its release.
Last week, CUNA called for public hearings on the proposed rule to fully vet its impact on credit unions.
“Because this is an extraordinary measure, we urge NCUA to reach out to the credit union system to solicit the views of credit union chief executive officers, chief financial officers, board members and other stakeholders in an interactive setting such as a hearing or hearings around the country,” wrote CUNA President/CEO Bill Cheney in a Feb. 14 letter to Matz. “Such a hearing or hearings would produce an official record to supplement the comment letters the agency receives and provide direct input to help the Board determine how to proceed with the proposal.”
All sessions will begin at 9 a.m. local time and run until noon. The first Listening Session is scheduled for June 26 in San Francisco, followed by Chicago on July 10 and Washington on July 17.
Registration will be free online, the NCUA said. Participation will open to the first 150 registrants. Participants will have opportunities to dialog with NCUA board members, senior NCUA staff and supervisory examiners from the NCUA Regions co-hosting each session.