ALEXANDRIA, Va. (9/29/14, UPDATED 4:10 p.m. ET)--National Credit Union Administration Chair Debbie Matz announced she intends to request a revised proposed risk-based capital rule be issued with a new comment period. This is a result of "significant structural changes" being considered. The Credit Union National Association requested a second comment period prior to issuing a final rule.
According to the agency, the amended proposal will include a longer implementation period and revised risk weights for mortgages, investments, member business loans, credit union service organizations and corporate credit unions, among other changes.
Stakeholders will also be invited to comment on an alternative approach for addressing interest rate risk using the supervisory process.
"I have always said that another comment period would only be appropriate if we decide to make significant structural changes that would exceed the parameters of the Administrative Procedure Act," Matz said. "Even though the changes we are developing would pose less of a regulatory burden than the original proposal, some changes would affect the rule's structure. Based on discussions with NCUA's General Counsel, I now believe it is prudent under the APA to ask for additional comments."
Matz anticipates the NCUA board could issue an amended proposal before the end of 2014.