Newsroom
Basel III incompatible with FCU Act, Becker says
Proposed Basel III capital requirements, which do not specifically apply to credit unions, are not compatible with the statutory framework on capital established under the Federal Credit Union Act, NAFCU President and CEO Fred Becker said Monday.
The proposed rules, issued jointly by the Federal Reserve Board, the Office of the Comptroller of the Currency and the FDIC, impose stricter capital, leverage ratio and liquidity requirements on banks.
In an Oct. 22 comment letter to the banking agencies and copied to NCUA Chairman Debbie Matz, Becker pointed out that the FCU Act imposes particular capital requirements and leverage ratios that measure a credit union's net worth and net worth ratios. Net worth is limited to the credit union's undivided earnings and regular reserves, he noted, while the net worth ratio is the ratio of a credit union's net worth to its total assets.
NAFCU is in regular contact with NCUA about any changes or modification to capital rules that credit unions must follow.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.