NASCUS Says It Will Press For Alternative Capital Bill

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The National Association of State Credit Union Supervisors (NASCUS) said it will more aggressively pursue federal legislation that would permit state regulators to allow state-chartered credit unions to supplement capital by use of supplementary or alternative capital instruments- provided they meet safety and soundness and investor protection guidelines.

The NASCUS board said it approved the move after credit unions indicated the issue was a high priority for them. NASCUS found in a survey that 11 states currently allow their credit unions, under same circumstances, to use a variety of alternative strategies to raise capital.

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