Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
State regulators back NCUA supplemental cap. push
WASHINGTON (1/20/11)--The National Association of State Credit Unions (NASCUS) this week backed the National Credit Union Administration’s (NCUA) support for potential additional sources of capital for credit unions by noting that credit unions can manage the complexities of supplemental capital, and that NCUA and state regulators are fully capable of managing its regulation. NCUA Chairman Debbie Matz, in a letter to the top members of the Senate Banking Committee and the House Financial Services Committee, recently urged statutory changes that would correct the disincentive that she said is impacting even strong, well-capitalized credit unions. She recommended allowing qualifying credit unions to issue supplemental capital and excluding assets that carry zero risk, such as short-term U.S. Treasury securities, from the definition of total assets. In the group’s letter to the NCUA, NASCUS President/CEO Mary Martha Fortney said that achieving capital reform has long been a matter of safety and soundness, and added that increased capital and investor discipline can provide credit unions with critical buffers during economic downturns. Earlier this week, Credit Union National Association (CUNA) President/CEO Bill Cheney commended the NCUA’s public support for capital reform. He said the regulator’s letter could be helpful as CUNA works to “educate members of Congress about the importance of establishing risk-based and supplemental capital avenues for credit unions."


RSS print
News Now LiveWire
Did you ask @CommonwealthCU CEO a fin. question on #heyKaren day? She'll answer #likeaboss http://t.co/2PgZAp9qu0 https://t.co/RySBvM4rBc
9 hours ago
Texans linebacker Cushing continues outreach, spokesman role for @FirstCommCU http://t.co/wIUGhn9okM
13 hours ago
Despite what consumers say, big banks still hold sway over market via @Marketplace http://t.co/ozH69d8soj
15 hours ago
Erie, Pa., Americo FCU CEO praises staff for actions during robbery http://t.co/yyhaPnDtXh
15 hours ago
"Shreditorial" praises good deeds of @DannemoraFedCU http://t.co/06qKe0mhzR
15 hours ago