WASHINGTON — NCUA, CUNA and NAFCU responded to the call from four senators for their top regulatory relief priorities in considering an overall financial services bill.

NCUA's letter circulating Capitol Hill submitted the establishment of a risk-based capital scheme as one of its two top priorities. It notes that the NCUA Board formally approved a plan to improve the capital and Prompt Corrective Action system for credit unions but cannot move forward without legislative action. The agency also noted that the current buckets–crowned at 5.25% or greater leverage ratio and 10% or greater risk-based ratio qualifying as "well-capitalized"–included recommendations from Treasury.

"NCUA advocates the change because the current statutory PCA requirements for credit unions are too rigid and establish a structure based primarily on a "one-size-fits-all" approach," NCUA Chairman JoAnn Johnson wrote in her letter to Senators Mike Crapo (R-Idaho), Jon Tester (D-Mont.), Tim Johnson (D-S.D.), and Chuck Hagel (R-Neb.), who had requested the information.