ALEXANDRIA, Va. — During Thursday's monthly NCUA Board meeting, Board Members Debbie Matz and Michael Fryzel encouraged comments on a proposed rule that would grant new investment authorities but could set a pay-to-play precedent that concerns trade associations.
The proposed rule would grant qualifying credit unions the ability to use derivative swaps and caps to hedge against interest rate risk.
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|However, because of the cost to the NCUA – as high as $16 million in temporary staffing costs over the first three years – the final rule could also include an application fee and/or an on-going supervision fee, to be paid by those credit unions applying for and utilizing the authority.
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