During its first open meeting of 2014, the National Credit Union Administration Board issued a proposed rule that strengthens risk-based capital requirements for federally insured credit unions and approved a final rule that allows those institutions to mitigate interest rate risk through the purchase of what were termed as “plain vanilla” derivatives.
NCUA—the independent federal agency that regulates, charters and supervises federal credit unions—also renewed the current 18 percent interest rate cap for most loans at federal credit unions through Sept. 10, 2015.
