NCUA's final corporate rules simplified limitations on permissible investments for wholesale credit unions. The regulator completely eliminated subordinated securities and private label mortgage backed securities, rather than allow them in limited concentrations as originally proposed.

"We decided they weren't worth the trouble," Executive Director Larry Fazio told Credit Union Times, adding that the two types of investments were responsible for the vast majority of corporate losses.

Other changes of note include a simplification of weighted average life limitations; for example, NCUA removed complex NEV chipping tests from the final regulations. Fazio said the controversial two-year weighted average requirement is still in the regulations, but NCUA provided some leeway on government agency investments, granting a 50% conversion factor. So, if a corporate purchases a four-year Treasury note, only 50% of its average weighted life–two years–would count for regulatory purposes.