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Comments due: NCUA (proposed rule; risk-based net worth, COVID-19 regulatory relief)

March 25

The National Credit Union Administration (NCUA) Board seeks comments on a proposal to raise the asset threshold for defining a credit union as “complex” for purposes of being subject to any risk-based net worth requirement in the NCUA’s regulations. The proposed rule would amend the NCUA’s regulations to provide that any risk-based net worth requirement will be applicable only to a federally insured natural-person credit union with quarter-end assets that exceed $500 million and a risk-based net worth requirement that exceeds six percent. The proposed rule is aimed at providing capital relief fo a “significant number” of credit unions (estimated at 67) amid the COVID-19 pandemic and in advance of the Jan. 1, 2022, effective date of the 2015 final risk-based capital rule.

Reg lookup: Risk-Based Net Worth – COVID-19 Regulatory Relief

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Date:
March 25
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