ALEXANDRIA, Va.—NCUA’s final risk-based capital rule could come up for a vote as early as the September NCUA board meeting, according to one source.
CUToday.info recently spoke with one source with insights into the NCUA board who requested anonymity and who believes the controversial rule could be on the board's agenda for a vote in September, suggesting the agency may be holding meetings now to discuss timing.
NCUA, however, told CUToday.info that the final rule will not appear on the agenda of the September board meeting, but that the agency is still on track for the final rule to come before the board by the end of this year.
The timing of the final rule could be affected by Washington, with the Credit Union Risk-Based Capital Study Act of 2015 being introduced in Congress in June. The bill would require NCUA to study and report to Congress on whether the agency has the clear legal authority to issue a two-tier proposal, how RBC2 compares to bank capital requirements, the rationale behind the risk-weighting used by the agency and the impact the proposal will have on credit unions’ capital cushions.
The agency would not be able to finalize or implement RBC2 before 120 days after the report goes to Congress.