Two themes dominated the NCUA's approach to passing the final version of the risk-based capital rule. First, it prevented credit unions from getting involved in high-risk lending, and second, very few credit unions will be affected by it.
The NCUA board approved the rule in a 2-1 vote Oct. 15 and raised the question of how many credit unions would be required to act to conform to the measure in its final debate over the rule.
During the discussion, NCUA Director of the Office of Examination and Insurance Larry Fazio reported 16 credit unions would have to add $67 million to their capital if they chose to add capital to comply with the rule instead of selling riskier assets.
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