The proposed rule revises the definition of “net worth” so that NCUA-contributed capital can be included in the calculation of regulatory capital under some circumstances. NCUA would permit a credit union to include § 208 assistance as regulatory capital where the assistance consists of capital accounts that: have a remaining maturity of five years or more; are not insured by the NCUSIF; may not be pledged as security on a loan to, or other obligation of, any party; have non-cumulative dividends; and are subordinate to the NCUSIF, shareholders, and creditors.
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