CUNA: Derivatives Proposal, As Is, a Missed Opportunity For CUs
Wednesday, 31 July 2013 05:34
In a second comment letter on the National Credit Union Administration's derivatives proposal, the Credit Union National Association noted that the agency's plan, if left unchanged, would impose excessive requirements and high costs on participating credit unions, resulting in "a lost opportunity for credit unions to reduce risk in a similar manner allowed for banks.

"This would place credit unions and the credit union system at a distinct disadvantage. Moreover, it would deprive credit unions of an important tool to manage [interest rate risk (IRR)] and thereby contain costs for the National Credit Union Share Insurance Fund," CUNA Deputy General Counsel Mary Dunn wrote.  Read More

 

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