ALEXANDRIA, Va.–When the vote is held on Thursday on the subordinated debit proposal currently before the NCUA board, NAFCU said it will be looking for approval of an item of which it said it is “very supportive.”
“It includes two of our previous requests, namely recognizing the emergency capital investment program (ECIP) funding for the whole term of the note,” said NAFCU Director of Regulatory Affairs Ann Petros. “They're not arbitrarily truncating it at 20 years, so we're hopeful that this portion will be finalized as proposed and allow for that longer maximum maturity.”
Secondly, Petros noted the proposed rule also addresses other areas of subordinated debt that provide for additional flexibility for the maturity on the various types of debt instruments, which NAFCU also supports, as it does some proposed technical changes.
Better Serving Communities
“(The proposed rule would) allow those credit unions to make more investments in their communities, especially underserved communities they're working hard to serve, and provide an impact to those members and offer affordable home and small business loans and other services in their communities.”
The NCUA board will meet at 10 a.m. Thursday. CUToday.info will have complete coverage.
It’s Called Fresh for a Reason. And We Offer Home Delivery. For Free!
The biggest, best and freshest news reporting in credit unions remains free in ’23! Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more.
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com