ALEXANDRIA, Va.--NCUA’s much-anticipated revised proposed risk-based capital rule will likely be introduced for a 90-day comment period at the agency's open board meeting scheduled for Jan. 15, 2015.
NCUA Chairman Debbie Matz Friday announced that she intends to request that the NCUA board consider the revised rule at the first meeting of the year.
“During the six months since the comment period closed on the original proposed rule, we’ve taken the time to carefully review and methodically evaluate the many thoughtful comments received from stakeholders,” Matz said. “We’ve also considered the input received during three Listening Sessions across the U.S. this summer. We’re getting closer to issuing the revised proposed rule, which I now anticipate will be presented in January 2015—one year since the original proposed rule.
“To provide the public ample time to review this important safety and soundness rulemaking, I intend to support a 90-day comment period,” Matz stated.
Based on stakeholder comments, the amended proposal will include a longer implementation period and revised risk weights for mortgages, investments, member business loans, credit union service organizations and corporate credit unions, among other changes. Stakeholders will also be invited to comment on an alternative approach for addressing interest rate risk using the supervisory process.
Following the NCUA announcement, NAFCU issued a statement saying it has been strongly urging that credit unions have an opportunity to thoroughly review and submit comments to the agency on any changes made to the RBC proposal before it is issued in final form. NAFCU said it plans to closely scrutinize the revised RBC proposal for changes in a number of areas that it has flagged as being particularly troublesome for credit unions.