NCUA Board Chairman Debbie Matz said the agency's risk-basedcapital rule would likely be changed before it is finalized.
|“Just as the NCUA incorporated significant changes to our finalrules on troubled debt restructurings,loan participations and derivatives … I assure you theNCUA will do so, as appropriate, on this critically importantrule,” Matz said in response to a joint letter from CUNAPresident/CEO Bill Cheney and NAFCU President Dan Berger.
|Both CUNA and NAFCU had asked NCUA to change the rule's commentperiod to 180 days from 90 days.
|Also of Interest:
CUNAAnnounces New Risk-Based Capital Webinar
Risk-BasedCapital Proposal Is 'One Size Fits All': NACUSO
5Reasons Credit Unions Worry About Risk-Based Capital
Matz declined an extension but noted that credit unions wouldhave 120 days in total to comment since the rule was not immediately published in the FederalRegister.
|According to CUNA, Matz also said the risk-based capitalproposal would be the “last significant safety and soundness” rulefor the rest of her term, which ends on April 10, 2015.
|“CUNA has warned that the [risk-based capital] plan, asproposed, could affect the core operations of most, if not all,credit unions with assets over $50 million, despite NCUA analysisthat says fewer than 200 credit unions will be impacted,” the tradeorganization said Tuesday.
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