WASHINGTON – The NCUA approved a proposal Thursday at the agency's monthly board meeting that would remove any limits associated with the level of fixed assets.
The NCUA received 36 comments on the original fixed assets proposed rule, which was approved at the NCUA board meeting in July of last year.
"While most supported additional flexibility, many also said that neither the 5% aggregate threshold or the Fixed Asset Management process were needed," NCUA Board Vice Chairman Rick Metsger said. "Today the board is taking those comments to heart by issuing a new rule incorporating both of those suggestions."
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.
