NCUA Chairman Debbie Matz said late Tuesday the agency will introduce a proposed rule on credit union use of derivatives during the first half of 2013.
The regulator first requested comment on the topic in June 2011, and sought further input with a formal 60-day comment period in January 2012.
“The staff has worked closely with a credit union community working group. This issue is so very complicated and we want to get it right,” Matz said during a webinar that also included Consumer Financial Protection Bureau Director Richard Cordray.
Matz said the NCUA will consider allowing credit unions with the appropriate expertise in derivatives to use the tool to hedge against interest rate risk.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
