NCUA to consider new RBC proposal at Aug. 2 board meeting

NCUA logoThe NCUA board of directors will consider a new proposed risk-based capital rule during the agency’s Aug. 2 board meeting. The proposal will not be released until Thursday, but several sources have indicated that the agency could issue a proposal that would delay the rule.

According to CU Times, “Chairman J. Mark McWatters has said he favors the two-year delay now being considered on Capitol Hill. However, board member Rick Metsger has said he continues to favor the RBC rule, saying that a crisis such as the one facing credit unions that are heavily invested in taxicab medallions demonstrates the need for the regulation.”

The board is also slated to discuss the federal credit union loan interest rate ceiling, which expires Sept. 10, as well as the agency’s mid-year budget.

Additional agenda items include a final rule on suspension and debarment procedures, and a proposed rule on loans to members.

The open portion of the meeting will begin at 10 a.m. and will streamed live on NCUA’s website.

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