Last week, the National Credit Union Association (NCUA) Board held its October meeting.  The Board unanimously approved a final risk-based capital rule that is expected to provide regulatory relief for credit unions.

The rule delays implementation of the risk-based capital rule by one year – moving the date to January 1, 2020 and raising the threshold for risk-based capital compliance to $500 million in assets.  The rule becomes effective 60 days after its publication in the Federal Register.

The Board also considered a proposed rule to make amendments to the Federal Credit Union bylaws.  Changes outlined in the proposal include:

  • Incorporation of legal opinions issued by the NCUA’s Office of General Counsel into the text of the Federal Credit Union Bylaws; and
  • Removal of outdated or obsolete provisions.

NCUA will be accepting comments about the proposed rule changes for 60 days following its publication in the Federal Register. Credit unions can submit their comments online, by mail, email, or fax.