ALEXANDRIA, Va. (4/18/14)--A two-part, 20-minute video has been released by the National Credit Union Administration, one that is intended to help federally insured credit unions with questions about the agency's proposed risk-based capital rule.
The new NCUA resource for credit unions is free and available on its YouTube channel (see resource link).
"NCUA's risk-based capital proposal is complex, but its overall purpose is simple," NCUA Chairman Debbie Matz said in a release. The video, she said, clears up "misinformation," explains why the agency believes the rule is necessary, and how it would affect credit unions. It also, she added, helps credit unions understand how and why the NCUA's proposal differs from the Federal Deposit Insurance Corp.'s rule and Basel III.
Comments on the RBC plan are due to the agency by May 28. The Credit Union National Association and the National Association of Federal Credit Unions continue to urge a 90-day extension to the comment deadline. (See related story: CUNA, NAFCU jointly repeat urging for RBC comment extension.)
CUNA has extensive resources for credit unions regarding the RBC plan. Use the resource link.