The NCUA's session at the NACUSO conference was so poorly received, this summer's listening sessions on RBC could get ugly.
Calling the proposed rule's $50M complexity threshold arbitrary, CUNA says credit unions of that size are small and probably simple.
Differences between the NCUA's risk-based proposal and Basel III requirements will make credit unions less competitive and less able to accumulate capital.
A new minimum 10.5% risk-based capital ratio would be required of federally insured CUs with more than $50M in assets.
Credit union executives say they can comply, but question some of the rule's risk-weighting details.
NCUA Board Member Rick Metsger said the NCUA didn't wait for Congress to act on risk-based capital requirements, despite trade calls to do so.
The NCUA's proposed new capital standards for credit unions over $50M raises capital requirements and requires risk-weighting 10 asset classes.
World Council helping European credit unions press case on classification of deposits.
The World Council of Credit Unions urged the Basel Committee on Banking Supervision to strive for greater clarity in its recent “Sound Management of Risk Related to Money Laundering and Financing of Terrorism” consultative document. The Basel Committee’s AML rules are one of the international standards that influence U.S. credit unions’...
World Council pens letter on AML lists and CU membership to Basel Committee on Banking Supervision.