WASHINGTON — Comments on NCUA's new risk-based capital proposal, now published in the Federal Register, are due May 28, according to CUNA.
Effective dates for comment periods are not set until the rule or proposal appears in the Federal Register, explained CUNA Chief Economist Bill Hampel during CUNA's Governmental Affairs Conference here.
Publication of a rule or proposal in the Federal Register means interested parties are now at notice that the rule exists and what its precise parameters and details are.
Hampel estimates three years will pass before the new capital rule takes effect. “I would be surprised to see a final rule from NCUA before late this year or sometime in 2015.”
Hampel added that NCUA has stated there will be an 18-month delay from when the rule is finalized until it takes effect. "We think that period will be even longer with all the input we expect from credit unions, and from looking at how the bank capital rules were phased in."
CUNA and NAFCU are urging credit unions to send in their comments and to attend NCUA's Listening Sessions this summer.
