ALEXANDRIA, Va. — As part of NCUA's efforts to increase access to secondary capital for low-income credit unions and to provide appropriate regulatory relief to all credit unions, the agency has unveiled a Secondary Capital Working Group webpage.
"For years I have heard from credit unions around the country about the need for supplemental capital, and increasing access to it is a top priority of NCUA's regulatory relief efforts," NCUA board chairman Debbie Matz said in a statement. "This webpage will be valuable resource for stakeholders who are interested in helping to shape our efforts to increase access. I encourage credit unions to provide us with their suggestions."
Formed back in December, the working group is focused on: increasing opportunities for low-income designated credit unions to access secondary capital; examining how supplemental capital may be used to satisfy NCUA's proposed risk-based capital rule; and exploring potential legislative means to increase access to supplemental capital for all credit unions.
In April, the group accomplished its first goal by completing updates to the NCUA's National Supervision Policy Manual which made secondary capital more "attractive to investors and streamlined the approval process" for both federally chartered and state-chartered low-income credit unions.
The new webpage can be accessed here: http://www.ncua.gov/DataApps/Pages/Secondary-Capital-Working-Group.aspx