ALEXANDRIA, Va. (5/7/15)--The latest information on efforts by the National Credit Union Administration’s supplemental capital working group can now be found on a website launched by the agency Wednesday.
The new page will feature the latest on the working group’s activities, as well as other secondary capital resources.
NCUA Chair Debbie Matz announced the formation of the group, along with a similar one to work on field-of-membership rules, in December.
CUNA has been a strong advocate, particularly in recent months, for credit unions to have the ability to raise additional forms of capital. In addition to raising the point in congressional testimony, CUNA President/CEO Jim Nussle wrote to members of the U.S. House last week explaining how supplemental capital could help credit unions meet capital demands, particularly those brought by small businesses.
CUNA has also urged the NCUA to allow credit unions to use supplemental capital in meeting risk-based capital requirements as proposed in the agency’s revised risk-based capital proposal.
In April, the NCUA working group completed updates to the NCUA’s National Supervision Policy Manual that streamlined the approval process for federally chartered and state-chartered low-income credit unions.
According to the agency, the group’s focus is on:
The working group is currently reviewing what supplemental capital regulations can be changed through regulation, and what changes would require legislation.
In addition to the website, interested parties can contact the group with feedback at SCWG@ncua.gov.