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Cornerstone supports compliance extension for NCUA's RBC rules; asks for CU comments

by Carrie Buchholz | Jul 11, 2019

The National Credit Union Administration Board is seeking comment on a proposed rule to delay the effective date of the risk-based capital rules—specifically, the Oct. 29, 2015, final rule regarding risk-based capital and the Nov. 6, 2018 supplemental final rule regarding risk-based capital. The proposal moves the effective date of both rules to Jan. 1, 2022.

Cornerstone Credit Union League supports extension of the compliance deadline, and we encourage credit unions to submit a letter in support of the proposal. Comments must be received by July 26, 2019.

This proposed delay would allow the NCUA Board additional time to holistically and comprehensively evaluate capital standards for federally insured credit unions. The proposed delay would also provide covered credit unions and the NCUA with additional time to prepare for the rule’s implementation. During the extended delay period, the NCUA’s current Prompt Corrective Action (PCA) requirements would remain in effect.

You have several choices for submitting your written comments, identified by RIN 3133– AF01. Please choose only one of the methods below:

  • Email: Address to regcomments@ncua.gov. Include ‘‘[Your name]— Comments on Proposed Rule: Risk Based Capital—Delay of Effective Date’’ in the email subject line.
  • Fax: 703-518-6319. Include ‘‘[Your name]— Comments on Proposed Rule: Risk Based Capital—Delay of Effective Date’’ in the subject line.
  • U.S. Mail: Address to Gerard Poliquin, Secretary of the Board, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428.

You can view all public comments on the NCUA’s website at as submitted.

If you need help in crafting comment letters, or if you have questions about this proposal, please contact Suzanne Yashewski at syashewski@cornerstoneleague.coop or 512-853-8516.