ALEXANDRIA, Va.—Comments on NCUA’s subordinated debt proposal and federal credit union bylaws proposal are among several proposals with comment deadlines in December.
As CUToday.info has reported, NCUA’s bylaws proposal would amend the Federal Credit Union Act to reflect the Credit Union Governance Modernization Act, which the president signed earlier this year. It would update the federal credit union member expulsion process.
Comments are due to NCUA Dec. 2.
Separately, the comment period is also open on NCUA’s subordinated debt proposal, which would make two changes related to the maturity of Subordinated Debt Notes (Notes) and Grandfathered Secondary Capital (GSC).
That proposal would:
- Replace the maximum maturity of notes with a requirement that any credit union seeking to issue notes with maturities longer than 20 years to demonstrate how such instruments would continue to be considered ‘‘debt’’
- Extend the regulatory capital treatment of GSC to the later of 30 years from the date of issuance or January 1, 2052
Comments are due to NCUA Dec. 5.
FHFA Proposal
In addition, comments are also due Dec. 5 on the Federal Housing Administration’s (FHA) request for information regarding small mortgage lending. FHA is seeking public input regarding barriers to the origination of small mortgages in the FHA program, CUNA noted.
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