NEW RISK-BASED CAPITAL RULE (RBC#2)
DATELINE ALEXANDRIA, VA.: The Board of the National Credit Union Administration (NCUA) today voted 2-1 to release a new risk-based capital (RBC) rule for public comment. An initial review of the voluminous 450 page rule confirms that the new RBC rule is...
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| Quelle surprise !!! (... as Yves Smith would say!) |
16 comments:
Makes my prom date look good!
The Federal Credit Union Act is only 93 pages!
If brevity is the soul of wit, what is the 450 page monstrosity?
Give NCUA a break! They did smear it with lipstick
Seem to have confirmed everyone's suspicion about the business IQ of the sr staff.
Did NCUA attempt to justify violating The Federal Credit Union Act this morning?
Chair Matz has never let the law, Congress, nor the US Constitution get in the way of her ambition.
Metsger as we know is lap-dogging her.
BRAVO for McWatters!
If you want to know how much a soul is selling for now a days, just look at the Vice Lapdog's paycheck.
All five pages of the U.S. Constitution are written on parchment. Let's hope the NCUA publishes this piece of trash on a piece of toilet paper for a proper flush. Looks like Metsger is doing some heavy lifting. How fast will the trades cave in and praise this piece of work? Who elected these 3 village idiots? So they were not elected and now they impose regulations on the regulated with immunity. Something is not right with this picture.
About Mr. McWatters "nay" vote and his belief that NCUA does not have the legal authority to change the definition of a complex credit union - while Chair Matz says she does have that authority....
That leads to the following question:
"Would you prefer to take the legal advice of a trained, skilled, experienced lawyer or the legal advice of a robust government economist?"
Can NCUA sue itself?
Saying it does not make it so!
I think the 01.01.2019 implementation date is to allow us time to convert to state chartered, privately insured. Either that or Jim's retirement date is 12.31.18.
Will someone please tell the VC that Chevron is not a car in the Chevrolet series?
Glad to have a thoughtful, fact based leader on the NCUA board.
A breath of fresh air
http://www.ncua.gov/Legal/GuidesEtc/Pages/Voluntary-Liquidation-Manual.aspx
Jimbalaya, did I not predict a verbal attack on the lone no vote? Could it have been more orchestrated? Now that the majority has weakened the rule what value does it have? The right call now would be to bite the bullet, admit they were wrong and implement constructive guidance. Hold on a minute while I relight my weed.
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