NCUA Corporate Proposal Expected Out By Autumn

ALEXANDRIA, Va.-By autumn NCUA will issue a proposal related to changes to the corporate CU system, according to Chairman Michael Fryzel. The proposal will take into account the 450 comment letters the agency received as part of its advance notice of proposed rulemaking (ANPR) regarding the regulation of corporates and the corporates themselves, including potential changes to Part 704 that would clarify or revise provisions that include capital, management of credit risk and liquidity, permissible investments, and corporate governance. The goal, according to Fryzel, is to have a final rule in place by Spring of 2010, but that could be affected by the nominaton of Debbie Matz to become the agency's new chairman. No hearing date for Matz has been set by Congress.