ALEXANDRIA, Va. — NCUA has revised its supervisory policies in order to ease the secondary capital process for low-income credit unions and investors.
The agency announced today in a statement that it has amended its National Supervsion Policy Manual with the intent of speeding up approval for secondary capital request by regional offices, and making it possible for CUs that have secondary capital to return portions of the loan that no longer count towards net worth.
NCUA Chairman Debbie Matz explained that the move is in line with the agency's Regulatory Modernization Initiative, which aims to ease the compliance burden at credit unions.
"The supervisory changes related to supplemental capital make it easier for low-income credit unions to obtain and give investors clarity and confidence," Matz said in a statement, noting that transparency and flexibility have also been added."
Full details on the revised procedures are available
