PRESS RELEASE

FOR IMMEDIATE RELEASE
Oct. 15, 2015

CONTACT: Patrick Keefe, NASCUS Communications, pkeefe@nascus.org/(703) 528-5974

NASCUS PRESIDENT AND CEO LUCY ITO
ON POTENTIAL FOR SUPPLEMENTAL CAPITAL RULE FROM NCUA

Input from state regulators – with experience in supervising – should be considered

Following the NCUA Board’s discussion of a final rule on risk-based capital, at which Chairman Debbie Matz said that agency plans “to address supplemental capital as soon as possible in a new proposed rule,” Lucy Ito issued the following statement:

“We applaud NCUA Board Chairman Matz for indicating the agency would propose ‘as soon as possible’ a rule on supplemental capital, as well as support from Vice Chairman Metsger and Board Member McWatters for a proposal. Certainly, the details of any such plan will be critical. Toward that end, we second Board Member McWatter's call for a group of stakeholders – which should include state regulators who have first-hand experience supervising credit unions and other financials with supplementary capital authority -- to consult with the agency on a rule. Overall, however, moving forward on a supplemental capital rule has potential for being a crucial step for the credit union system. NASCUS has long sought supplemental capital authority for credit unions as a tool for better managing risk and buttressing safety and soundness. Going forward, supplemental capital authority should enable credit unions to better weather the next financial crisis."

 

Information Contact:
Patrick Keefe, Vice President, Communications, pkeefe@nascus.org or (703) 528-5974

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.