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NCUA Today Unveils Newly Revised RBC Proposal
Thursday, January 15, 2015 6:35 AM

Today the credit union community got its first glimpse of the National Credit Union Administration's much-anticipated revised risk-based capital (RBC) proposal at the agency's January board meeting.

CUNA President and CEO Jim Nussle, who was in attendance at the meeting, released the following statement immediately following the NCUA board unveiling its revised proposal:

“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 percent 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.”

Nussle will be alerting league presidents throughout the day on the latest developments.

Credit unions may follow the @NewsNowLiveWire Twitter account, search the hashtag #RBC2 and #NCUABdMtg and stay tuned to News Now throughout the day for continuing live updates. CUNA's Risk-Based Capital blog will also be posting updates throughout the day.