20-EA-02: NCUA - Subordinated Debt

On March 10, 2020, the National Credit Union Administration (NCUA) published a proposed rule to grant certain credit unions the ability to issue subordinated debt. In general, subordinated debt would resemble secondary capital, which low-income designated credit unions (LICUs) can already issue; however, regulatory capital treatment would vary depending on the type of issuing credit union.

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