WASHINGTON (10/27/15)--Comments on the National Credit Union Administration’s (NCUA) proposal on bank note investments are due Nov. 23. Comments can also be sent to CUNA before Nov. 19. 

Approved to be released for comment by the NCUA board at its October meeting, the proposal was published in the Oct. 22 Federal Register, kicking off its 30-day comment period.

The proposal would grant federal credit unions more flexibility in which bank notes they can purchase. Currently, federal credit unions can invest in bank notes with “original weighted average maturities” of less than five years.

The NCUA’s proposal would eliminate the term “original,” allowing credit unions to purchase bank notes that had maturity terms of greater than five years, but still have a remaining maturity of fewer than five years.

During the board’s October meeting, NCUA Chair Debbie Matz said the idea for this proposal came from a call to the agency’s investment hotline.