Bankowość i finanse · 01/12/2008

NCUA Adopts Rule Expanding Prompt Corrective Action Definition for Natural Person Credit Unions

The NCUA is implementing a statutory amendment to expand the definition of 'net worth' for natural person credit unions under regulatory capital standards, allowing the acquiring credit union to combine retained earnings in a merger to determine post-merger 'net worth'. The rule also applies to corporate credit unions, allowing them to combine retained earnings with their own capital to determine post-merger capital.