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H. Rept. 114-869 1 (2016-12-12)

handle is hein.congrecreports/crptxryr0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 114TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 114-869 RISK-BASED CAPITAL STUDY ACT OF 2015 DECEMBER 12, 2016.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT [To accompany H.R. 2769] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 2769) to require the National Credit Union Administra- tion to conduct a study of the appropriate capital requirements for credit unions, and for other purposes, having considered the same, report favorably thereon without amendment and recommend that the bill do pass. PURPOSE AND SUMMARY H.R. 2769 requires the National Credit Union Administration (NCUA) to conduct a study of the appropriate capital requirements for Federal and State credit unions, as defined under section 101 of the Federal Credit Union Act (FCUA). Any credit union may vol- untarily provide information for the study if requested by the NCUA, but may not be required to provide such information. H.R. 2769 also requires the NCUA to issue a report to Congress containing all findings made in carrying out its study and any leg- islative recommendations to improve the capital system for credit unions. The report must be issued to Congress within 270 days of enactment. Until 120 days after it issues its report to Congress, the NCUA may not issue or implement any final risk-based capital rule or regulation. BACKGROUND AND NEED FOR LEGISLATION On January 23, 2014, the NCUA issued a proposed rule to amend its risk-based capital requirements for credit unions. Known as the Risk-Based Net Worth Rule, the proposal generated sig- nificant controversy and garnered over 2,000 comment letters, in- 69-006

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