ALEXANDRIA, Va. (3/24/16)--Today’s National Credit Union Administration (NCUA) meeting will see the board vote to finalize a rule on credit union bank notes.
The Credit Union National Association supports the proposed changes, telling the NCUA in a comment letter that the plan will give credit unions access to additional investments, which could lower investment costs and increase net returns without adding risk.
The NCUA’s proposal would amend the maturity requirement for bank notes to be permissible investments for federal credit unions by changing the current requirement that bank notes have ‘‘original weighted average maturities of less than five years’’ to having “weighted maturities of less than five years.”
Also on the agenda is an update on the Temporary Corporate Credit Union Stabilization Fund and a discussion of the agency’s enterprise solutions modernization program.
The meeting is scheduled to begin today at 10 a.m. (ET). A live video stream will be available, with a link appearing on the NCUA.gov homepage at approximately 9:45 a.m. (ET).