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WASHINGTON — Federal Reserve Board Governor Susan Schmidt Bies told a room full of credit union representatives that she personally was supportive of the idea of risk-based capital in general.

Clarifying that she was not speaking for the Federal Reserve Board, Bies said she is generally supportive of the idea of risk-based capital, but difficulties for smaller institutions should be considered in implementation. “I firmly believe capital should follow risk,” she stated in response to a question from former NCUA Chairman Dennis Dollar during NCUA Vice Chairman Rodney Hood’s Risk Mitigation Summit. “If not, you can get a false sense of security.”

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