Newsroom
March 16, 2023
Subordinated debt rule to be finalized today
The NCUA Board meets today at 10 a.m. Eastern and is expected to finalize the subordinated debt rule largely as proposed, which granted two previous NAFCU requests related to the Emergency Capital Investment Program (ECIP) and maximum maturity limits.
The NAFCU-supported proposed rule included provisions to extend the treatment of Emergency Capital Investment Program (ECIP) funds as regulatory capital to reflect the maximum permissible maturity of the note, and to eliminate the 20-year maximum maturity limit in favor of a more flexible test.
A livestream will be available on the agency’s website. NAFCU will monitor the meeting and keep credit unions informed of the board’s discussion.