ALEXANDRIA, Va. (10/8/15 UPDATED 3:30 p.m. ET)--The finalized version of the National Credit Union Administration’s revised risk-based capital (RBC2) proposal is on the agenda for the agency’s Oct. 15 meeting. The agenda, released this afternoon by the NCUA, lists the final RBC rule as an item for consideration.
The agency issued RBC2 in January after its original proposed rule was introduced last year. The revised proposal has a number of improvements, but CUNA continues to believe, in the words of President/CEO Jim Nussle, that it is a “solution in search of a problem.”
However, CUNA noted roughly 25 key improvements over the agency’s first risk-based capital proposal. These include:
NCUA Chair Debbie Matz, in a letter sent to legislators today, said "the final risk-based capital rule will be calibrated to affect only a few dozen credit union outliers not carrying sufficient capital to match the risks on their balance sheets." CUNA requested the NCUA make those calibrations.
CUNA made a number of other suggestions in its comment letter, including:
The other items on the agenda include a proposed rule on bank notes, delegations of authority for the approval of community charter requests and a quarterly update on the National Credit Union Share Insurance Fund.