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The NCUA removed interest rate risk provisions from its risk-based capital rule after credit unions overwhelmingly voiced their opposition. However, if the Switzerland-based Basel Committee on Banking Supervision includes all institutions in its interest rate risk guidelines, credit unions will likely see a new interest rate rule from the NCUA that could require them to increase capital to offset the risk.

“Since the RBC proposal is based on Basel III, [the NCUA is] probably looking very carefully at this proposal,” WOCCU Vice President and General Counsel Michael Edwards said. “It will for sure be implemented for big banks, probably community banks, too.”

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