CUNA encouraged by NCUA revised RBC proposal; will continue to push to enhance rule

January 15, 2015

January 15, 2015
Contacts: Vicki Christner – CUNA Communications; (202) 508-6754;
Washington, D.C. (January 15, 2015) – CUNA President and CEO Jim Nussle released the following statement immediately following the NCUA board unveiling its revised risk-based capital proposal today at its January board meeting:
“I appreciate that the NCUA board reissued its risk-based capital proposal with many of the improvements that CUNA and the leagues requested.  We are encouraged that the board listened and responded to credit union concerns, including lowering the 10.5% well-capitalized requirement, lowering some of the risk weights, removing the treatment of interest rate risk, extending the implementation time frame, reducing the number of credit union affected, and addressing the individual minimum capital requirement. CUNA’s efforts have helped NCUA make progress, but we remain unconvinced that this risk-based capital approach is even necessary, and are concerned about the risk-based well capitalized requirement and the substantial cost the proposal will impose on credit unions. We will continue to be fully engaged with the NCUA board and the credit union system to enhance the revised rule.”