NCUA's Hood Plans Summit On Mitigating Risk
NCUA Vice Chairman Rodney Hood said he plans to call a summit of both natural-person and corporate credit unions in December to discuss tools for mitigating balance sheet risks, in addition to exploring alternative investment opportunities. Hood also reiterated his support for risk-based capital for credit unions.
"The ability to create such a system lies with the NCUA board. I believe the positive track record of a risk-based system for corporates will aid potential legislative review for natural person credit unions," he said. Hood, who made the announcement during WesCorp's Future Forum here, did not identify where the summit would be held or what it will cost to attend, saying only that it will be open to all asset sizes and that details will be provided in the coming months.