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News Now

Washington
CUNA seeks comment on agency corporate changes
WASHINGTON (9/26/11)--The Credit Union National Association (CUNA) is accepting credit union comment on recently proposed National Credit Union Administration (NCUA) technical amendments and clarifying changes to its corporate credit union rule, Part 704. The proposed changes amend NCUA regulations to exclude Central Liquidity Facility (CLF) stock subscriptions from the definition of net assets. The proposal also clarifies that violations of the weighted average life of a corporate's assets are not subject to capital category reclassification. The proposal would require the preparation of investment action plans for such violations. These changes were made to "relieve regulatory burden where warranted" and ease access to liquidity, the NCUA has said. CUNA in its comment call asks for comment on several aspects of the technical changes, including specific changes to the “net asset” definition and the inclusion of credit rating alternatives. CUNA is accepting comments until Sept. 30. For the full comment call, use the resource link.


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