Bankowość i finanse · 27/04/2020

NCUA Issues Interim Final Rule on Paycheck Protection Program Loans and Capital Adequacy Regulation

The National Credit Union Administration (NCUA) Board is issuing an interim final rule to conform its capital adequacy regulation to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which authorizes the Small Business Administration to create a loan guarantee program, the Paycheck Protection Program (PPP), to help businesses affected by the COVID-19 pandemic. The rule amends the NCUA's capital adequacy regulation to reflect the statutory requirement that PPP loans receive a zero percent risk weighting under the NCUA's risk-based capital requirements.