United States

NCUA delays risk-based capital rules to 2022


On December 13, 2019, the National Credit Union Administration (NCUA) issued a final supplemental rule that delays the effective date of the risk-based capital rules from January 1, 2020 to January 1, 2022. The December 2019 final supplemental rule delays the effective date of the 2015 risk-based capital final rule and the related supplemental final rule approved in 2018. Such rules amended Part 702 of the current Prompt Corrective Action (PCA) regulations that require credit unions that take certain defined risks to hold capital commensurate with those risks. The risk-based capital rules created the risk-based capital ratio, which replaces the risk-based net worth ratio for credit unions that are classified as complex as of the effective date. A credit union is defined as complex if the credit union has quarter-end total assets exceeding $500 million as of its most recent call report.

During the extended delay period, the existing PCA requirements remain in effect.

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