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Hood, NCUA to hold capital markets summit in NYC
The NCUA will host a Credit Union Capital Markets Symposium Apr. 11 at the New York Stock Exchange to share insights from top lawmakers and experts on industry hot topics including liquidity risks, the current interest rate ceiling, and use cases for subordinated debt and secondary capital.
NAFCU President and CEO Dan Berger and other association staff met with NCUA Board Member Rodney Hood last week to discuss some of these topics. During the meeting, attendees discussed the interest rate ceiling – which the NCUA voted to keep at 18 percent for another 18 months during the agency’s last board meeting. NAFCU has consistently advocated for a floating permissible interest rate ceiling to address constraints of the 15 percent ceiling set by the Federal Credit Union Act.
Of note, NAFCU recently published its Economic & CU Monitor – which examines survey responses on a variety of credit union topics – that revealed nearly one in three survey respondents indicated the current interest rate ceiling had constrained their credit union’s lending activity.
The NCUA will provide more information closer to the event, visit their website to get updates. Stay tuned to NAFCU Today for important updates on upcoming events.