Matz seeks to assure Stivers on RBC

Stivers letter NCUA

Aug. 18, 2014 – NCUA Board Chairman Debbie Matz on Thursday responded to concerns raised by Rep. Steve Stivers, R-Ohio, about the need for NCUA’s risk-based capital proposal, the risk weights used in the rule and the agency’s authority to implement such a rule.

In a letter similar to others she has sent lawmakers in recent weeks, Matz focused on the rule’s impact in the lawmaker’s state. In Stivers’ state of Ohio, “the proposed rule would apply to 77 of the state’s 281 federally insured credit unions as of the end of 2013.” She added that “of these 77 credit unions with more than $50 million in assets, only six would fall below the well-capitalized category because of the proposed rule.”

NAFCU continues to press NCUA for a rule that is fair for all credit unions and that doesn’t put them at a competitive disadvantage to community banks. The association is also pressing for a second comment period after NCUA has made its changes to the proposal and a compliance implementation period of at three years.

 

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