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Matz: Supplemental Capital, FOM Proposals Coming in the Fall
Wednesday, July 29, 2015 6:30 AM

Speaking during a town hall webinar on Tuesday, National Credit Union Administration Chair Matz said proposed rules on supplemental capital and field of membership will be put forward in the fall. Credit unions can expect regulatory relief this year in at least those two areas, she said, in addition to previous proposals.

“The proposed rule should be released for public comment before the end of the year," Matz said. "The effective date would coincide with implementation of risk-based capital in 2019, so supplemental capital and risk-based capital would go hand in hand.”

She also said that this fall, her agency is planning to propose a rule within NCUA’s authority to expand consumer access to federal credit unions. The rule will be designed to broaden community charters, enhance occupational charters and streamline processes for federal credit unions to add new members.

Matz said the NCUA’s quest to acquire third-party vendor authority is “a long way off.”

Going forward, the NCUA will be looking at Bank Secrecy Act compliance, de-risking, and liquidity levels in the credit union system over the next 12 to 24 months.

The webinar will be posted to the NCUA’s website once a transcript is completed and synced with the audio.