I read, with interest, Henry Wirz's letter in the May 11 issue, "Capital Plan Is a Bust."
First, for clarification, the white paper was not "recently released." It was released on April 12, 2010.
Second, the white paper was released under my and my working group's authorship. It has not been adopted by the NCUA board and does not reflect NCUA's official position on supplemental capital for credit unions as noted in the media advisory upon its issuance. The white paper is available on the NCUA's website, www.ncua.gov.
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