NCUA Chairman Debbie Matz renewed her call for supplemental capital for credit unions in a letter to the Senate Banking and House Financial Services Committees. The credit union trades heralded the letter while the ABA’s Keith Leggett took a swipe at it in his blog, “Credit Union Watch.”

Matz proposed allowing credit unions meeting certain NCUA-established criteria to exclude zero-risk assets, such as Treasury securities from the definition of total assets. The NCUA would set a minimum net worth requirement and determine whether share growth is the cause of declining net-worth, and not poor management or unsafe practices, before a credit union would be allowed to exercise this exclusion.

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