The final stress test rule is on the April 24 NCUA board meetingagenda.
|Credit Union Capital Planning and Stress Testing appears as thelast item on the agenda, which was released on Thursday. The rule,introduced during the NCUA's October 2013 board meeting, wouldrequire credit unions with more than $10 billion in assets tomaintain a stress test capital ratio of at least 5%, and submit tostress testing by the NCUA.
|CUNA, NAFCU and NASCUS have been critical of the proposed rule.
|“The fact that Congress under the Dodd-Frank Consumer Protectionand Wall Street Reform Act did not include NCUA among the agenciesdirected to implement capital plans or stress testing for thelargest institutions they regulate supports our view that a newregulation is not the best course of action,” CUNA Senior VicePresident and Deputy General Counsel Mary Dunn said.
|“We have huge questions and concerns with creating a newregulation at an enormous cost to the credit union – it's notnecessary,” said Carrie Hunt, senior vice president of governmentaffairs and general counsel at NAFCU.
|The Share Insurance Fund quarterly review and a request from the$224 million CME Federal Credit Union in Columbus, Ohio to expandits community charter are also on the agenda.
|A proposed rule on associational common bond requirements willbe introduced at the meeting as well.
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