Comment from ALM First
ALM FirstSupportBusiness
Summary: ALM First, a firm advising credit unions on balance sheet strategy and risk management, supports the NCUA's proposed framework for stablecoin issuance. They argue that the rule's effectiveness depends on integrating stablecoin activities into existing governance, liquidity, and capital planning processes rather than creating isolated regulatory silos.
ALM First comment - Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the NCUA