Credit Union Exam Solutions Presents With Flying Colors Secondary Capital / Subordinated Debt With Expert Dan Prezioso
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In this episode of With Flying Colors, Mark Treichel interviews Dan Prezioso, a Partner at Olden Lane. Olden Lane provides financial services to credit unions throughout the United States including advising and assisting in the raising of subordinated debt (previously known as secondary capital).
We discuss the topics below (and many more):
● Current Trends In Sub Debt
● Purposes of Sub Debt
● NCUA Letter to Credit Unions – Evaluating Credit Union Plans
● Low Income Designated Credit Unions
● ECIP
● Risk-Based Capital
With respect to an Issuing Credit Union that is a complex credit union (500M) and not a LICU, the aggregate outstanding principal amount of Subordinated Debt is included in the credit union's RBC Ratio. If a credit union is both a LICU and complex, the aggregate outstanding principal amount of Subordinated Debt, including Grandfathered Secondary Capital, will count towards that credit union’s net worth ratio and RBC Ratio.