Earlier this week, the NCUA Board issued a final Risk-Based Capital rule that delays the effective date of the rule for one year, until Jan. 1, 2020. The rule also amends the definition of a “complex” credit union by raising the asset threshold from $100 million to $500 million. This change exempts an additional 1,026 credit unions, for a total of 90 percent of all credit unions while still covering 85 percent of complex assets and liabilities and 76% of total assets.

The Board also issued a proposed rule to update, clarify, and simplify the FCU Bylaws. The proposed rule incorporates legal opinions issued over the years by NCUA’s Office of General Counsel into the text of the bylaws, removes outdated or obsolete provisions, and includes official staff commentary at the end of the bylaws. One substantive improvement in the proposed rule requires the NCUA approve or deny applications for bylaw amendments within 90 calendar days. The proposed rule has a 60-day comment period.

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