RBC final rule on NCUA agenda for Oct. 15

The agenda is out for the next NCUA board meeting and the final rule for risk-based capital (RBC) is listed. The NCUA is expected to announce the final rule and then vote. This is the second time the board has worked on RBC. Each time the NCUA opened RBC up for comments it received a […]

NCUAThe agenda is out for the next NCUA board meeting and the final rule for risk-based capital (RBC) is listed. The NCUA is expected to announce the final rule and then vote. This is the second time the board has worked on RBC. Each time the NCUA opened RBC up for comments it received a record number of comment letters.

Earlier this week three members of Congress, including Rep. Bill Posey (R-FL), sent NCUA Chairman Debbie Matz a letter asking the agency to voluntarily do what is listed in their bill, HR 2769, the Risk Based Capital Study Act, or better known as the stop and study act.  The letter asked the NCUA to study the need for RBC and to report back to Congress.

Chairman Matz sent all three sponsors of HR 2769 a letter on Thursday telling them that NCUA has studied the need for RBC, took into consideration thousands of comments from stakeholders, and that the Federal Credit Union Act calls for the NCUA to adopt an RBC policy. She points out that the NCUA changed the rule significantly from RBC 1 to RBC 2. She also writes that the new rule would only “affect a few dozen credit unions.”

The NCUA board meeting is Oct. 15 at 10 am.

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