NCUA Board poised to issue new fixed-asset proposal

first_imgThe NCUA Board meets at 10 a.m. Eastern today to take up issuance of a new proposed rule to eliminate the 5 percent limit on federal credit union investments in fixed assets and hear a quarterly update on the corporate stabilization fund.NCUA issued a proposal last year to allow federal credit unions to exceed the 5 percent-of-assets limitation on investment in fixed assets if they put a program in place to control the activity. NAFCU supported NCUA’s making the cap more flexible but urged greater relief and more clarity.NCUA Chairman Debbie Matz stated that this new proposal will “eliminate” the cap altogether.The board today will also receive a quarterly report on the Temporary Corporate Credit Union Stabilization Fund. NCUA continues to state that it doesn’t plan to impose future stabilization assessments on credit unions. To date, credit unions have paid $4.8 billion in assessments since the fund was established. continue reading » 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more