Matz: Revised RBC Rule Proposal Set For January
NCUA Board Chairman Debbie Matz said she plans to request the NCUA Board consider the revised proposed risk-based capital rule at the NCUA Board meeting in January of next year.
“During the six months since the comment period closed on the original proposed rule, we’ve taken the time to carefully review and methodically evaluate the many thoughtful comments received from stakeholders,” Matz said in a statement. “We’ve also considered the input received during three Listening Sessions across the U.S. this summer. We’re getting closer to issuing the revised proposed rule, which I now anticipate will be presented in January 2015—one year since the original proposed rule.”
The meeting is scheduled for Jan. 15, 2015. Matz also said she supports a 90-day comment period.
“To provide the public ample time to review this important safety and soundness rulemaking, I intend to support a 90-day comment period,” she said.
The agency said the re-proposed rule would include “a longer implementation period and revised risk weights for mortgages, investments, member business loans, credit union service organizations and corporate credit unions.”
Stakeholders will also have the opportunity to comment on a separate interest rate risk proposal.
"We appreciate that Chairman Matz intends to support a 90-day comment period, which is consistent with how we thought this process would work, and we will be urging the other members of the board to support this approach,” CUNA President/CEO Jim Nussle said. “CUNA looks forward to seeing the details of the revised rule when it is proposed. We plan to be an active participant in what we hope will be an open process that will fully examine the effect the revised proposal will have on credit unions.”
NAFCU also released a statement in reaction to Chairman Matz's announcement.