NCUA Chairman Debbie Matz has told the Financial Accounting Standards Board that the group’s proposed credit loss accounting standard present safety and soundness concerns for small and medium sized credit unions.

Matz expressed her concerns about the proposal, which industry leaders estimate could double or even triple current allowances for loan and lease losses, in a supplemental letter sent Friday following an interagency opinion that included the NCUA, FDIC, Federal Reserve Board and the Office of the Comptroller of the Currency.

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