ALEXANDRIA, Va. (2/11/15)--At a town-hall style webinar with federal regulators Tuesday, credit unions had the opportunity to ask questions on a wide range of topics from a potential interest-rate risk (IRR) rule to what's going on with recently formed working groups on key issues.
More than 900 people registered for the webinar with the National Credit Union Administration and Consumer Financial Protection Bureau (CFPB).
An IRR plan originally was included in the NCUA's risk-based capital proposal, but it was removed. However, the agency has mentioned a separate rule might be coming. CUNA has urged the agency on numerous occasions not to issue a new IRR rule or address it in the RBC2 risk weightings, since an IRR rule took effect in 2012.
Larry Fazio, NCUA's director of examination and insurance, said the agency's goal is to make sure credit unions with significant IRR can weather the storm, should rates change dramatically. He said the agency is evaluating ways to approach a standard way to analyze IRR.
"I wouldn't expect anything definitive in terms of guidance or any rulemaking in the next few months," he said.
The webinar also touched on two working groups formed by NCUA Chair Debbie Matz--one on supplemental capital and one on field of membership (FOM).
Matt Biliouris, deputy director of the NCUA's Office of Consumer Protection, said the FOM group is inventorying the issues brought up by the credit union community and is examining policy and regulatory changes that can be made regarding FOM within the parameters of the Federal Credit Union Act.
Bill Myers, director of the NCUA's Office of Small Credit Union Initiatives, said the NCUA staff supplemental capital group has held two meetings. It is reviewing what can be changed through regulation or legislation and will seek public feedback in the coming months.
Other items discussed include: