WASHINGTON (9/1/09)—New joint federal regulatory guidance on funding and liquidity risk management makes sense at for banking organizations, but would only be redundant to existing rules for credit unions, the Credit Union National Association (CUNA) said in a comment letter submitted Monday.
The CUNA letter addresses proposed interagency guidance issued the National Credit Union Administration (NCUA), Office of the Comptroller of the Currency, Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of Thrift Supervision. The proposed guidance is intended to clarify and summarize principles of sound liquidity risk management previously issued by the agencies.
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Courtesy of cuna.org