Community Development Revolving Loan Fund, 40197-40201 [2016-14718]

Download as PDF 40197 Proposed Rules Federal Register Vol. 81, No. 119 Tuesday, June 21, 2016 This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. DEPARTMENT OF ENERGY 10 CFR Part 431 [Docket Number EERE–2013–BT–STD– 0040] RIN 1904–AC83 Energy Conservation Program: Energy Conservation Standards for Compressors; Extension of Comment Period Office of Energy Efficiency and Renewable Energy, Department of Energy. ACTION: Extension of public comment period. AGENCY: On May 19, 2016, the U.S. Department of Energy (DOE) published in the Federal Register a notice of proposed rulemaking (NOPR) for compressor energy conservation standards. This document announces an extension of the public comment period for submitting comments on the NOPR or any other aspect of the energy conservation standards rulemaking for compressors. The comment period is extended to August 17, 2016. DATES: The comment period for the proposed rule published on May 19, 2016 (81 FR 31679), is extended. DOE will accept comments, data, and information regarding this rulemaking received no later than August 17, 2016. ADDRESSES: Interested persons may submit comments, identified by docket number EERE–2013–BT–STD–0040 and/or Regulation Identifier Number (RIN) 1904–AC83, by any of the following methods: • Federal eRulemaking Portal: www.regulations.gov. Follow the instructions for submitting comments. • Email: AirCompressors2013STD0040@ ee.doe.gov. Include the docket number EERE–2013–BT–STD–0040 and/or RIN 1904–AC83 in the subject line of the message. • Mail: Ms. Brenda Edwards, U.S. Department of Energy, Building Technologies Program, Mailstop EE–5B, rmajette on DSK2TPTVN1PROD with PROPOSALS SUMMARY: VerDate Sep<11>2014 14:42 Jun 20, 2016 Jkt 238001 1000 Independence Avenue SW., Washington, DC 20585–0121. If possible, please submit all items on a compact disc (CD), in which case it is not necessary to include printed copies. [Please note that comments and CDs sent by mail are often delayed and may be damaged by mail screening processes.] • Hand Delivery/Courier: Ms. Brenda Edwards, U.S. Department of Energy, Building Technologies Program, 950 L’Enfant Plaza SW., Suite 600, Washington, DC 20024. Telephone (202) 586–2945. If possible, please submit all items on CD, in which case it is not necessary to include printed copies. Docket: The docket is available for review at www.regulations.gov, including Federal Register notices, framework documents, public meeting attendee lists and transcripts, comments, and other supporting documents/materials. All documents in the docket are listed in the www.regulations.gov index. However, not all documents listed in the index may be publicly available, such as information that is exempt from public disclosure. The rulemaking Web page can be found at: https://www1.eere.energy.gov/ buildings/appliance_standards/ product.aspx/productid/78. The Web page contains a link to the docket for this document on the www.regulations.gov site. The www.regulations.gov Web page contains instructions on how to access all documents in the docket, including public comments. FOR FURTHER INFORMATION CONTACT: Mr. James Raba, U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy, Building Technologies Office, EE–5B, 1000 Independence Avenue SW., Washington, DC 20585–0121. Telephone: (202) 586–8654. Email: Jim.Raba@ee.doe.gov. For legal issues, please contact Mr. Peter Cochran, U.S. Department of Energy, Office of the General Counsel, GC–33, 1000 Independence Avenue SW., Washington, DC 20585–0121. Telephone: (202) 586–9496. Email: Peter.Cochran@hq.doe.gov. SUPPLEMENTARY INFORMATION: On May 19, 2016, DOE published in the Federal Register a notice of proposed rulemaking (NOPR) for compressors. 81 FR 31679. The document provided for PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 submitting written comments, data, and information by July 18, 2016. DOE has received a request from the Compressed Air & Gas Institute (CAGI), dated May 25, 2016, to provide additional time in which to submit comments pertaining to the rulemaking for compressors. This request can be found at: https:// www.regulations.gov/ #!documentDetail;D=EERE-2013-BTSTD-0040-0039. An extension of the comment period would allow additional time for CAGI and other interested parties to examine the data, information, and analysis presented in the compressors Technical Support Document (TSD), gather any additional data and information to address the proposed standards, and submit comments to DOE. The TSD can be found at: https://www.regulations.gov/ #!documentDetail;D=EERE-2013-BTSTD-0040-0037. In view of the request from CAGI, DOE has determined that a 30-day extension of the public comment period is appropriate. The comment period is extended to August 17, 2016. Issued in Washington, DC, on June 13, 2016. Kathleen B. Hogan, Deputy Assistant Secretary for Energy Efficiency, Energy Efficiency and Renewable Energy. [FR Doc. 2016–14480 Filed 6–20–16; 8:45 am] BILLING CODE 6450–01–P NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 705 RIN 3133–AE58 Community Development Revolving Loan Fund National Credit Union Administration (NCUA). ACTION: Proposed rule. AGENCY: The NCUA Board (Board) proposes to make several technical amendments to NCUA’s rule governing the Community Development Revolving Loan Fund (CDRLF). The proposed amendments would make the rule more succinct and update it to improve its transparency, organization, and ease of use by credit unions. DATES: Comments must be received on or before August 22, 2016. SUMMARY: E:\FR\FM\21JNP1.SGM 21JNP1 40198 Federal Register / Vol. 81, No. 119 / Tuesday, June 21, 2016 / Proposed Rules You may submit comments by any of the following methods (Please send comments by one method only): • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. • NCUA Web site: https:// www.ncua.gov/regulation-supervision/ Pages/rules/proposed.aspx. Follow the instructions for submitting comments. • Email: Address to regcomments@ ncua.gov. Include ‘‘[Your name] Comments on Proposed Rule 705, CDRLF Amendments’’ in the email subject line. • Fax: (703) 518–6319. Use the subject line described above for email. • Mail: Address to Gerard Poliquin, Secretary of the Board, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314– 3428. • Hand Delivery/Courier: Same as mail address. FOR FURTHER INFORMATION CONTACT: Geetha Valiyil, Manager, Grants and Loans, Office of Small Credit Union Initiatives, or Justin Anderson, Senior Staff Attorney, Office of General Counsel, at 1775 Duke Street, Alexandria, VA 22314 or telephone (703) 518–6645 (Ms. Valiyil) or (703) 518–6540 (Mr. Anderson). SUPPLEMENTARY INFORMATION: ADDRESSES: rmajette on DSK2TPTVN1PROD with PROPOSALS A. Background Congress created the CDRLF in 1979 with an initial appropriation of $6 million and transferred its exclusive administration to NCUA in 1986. The CDRLF is a source of financial support, in the form of loans and technical assistance grants, for credit unions serving predominantly low-income members. It also serves as a source of funding to help low-income credit unions respond to emergencies arising in their communities. The Board has delegated authority to the Office of Small Credit Union Initiatives to determine how to allocate the finite resources of the CDRLF among qualifying credit unions. Awards provided through the CDRLF have strengthened credit unions by enabling them to increase their capacity to support the communities in which they operate. This increased capacity has allowed credit unions to provide basic financial services to low-income residents in those communities, resulting in more opportunities for residents to improve their financial circumstances. In 2011, the Board substantially revised Part 705 to make the rule clearer and more user friendly, as well as to eliminate outdated and unnecessary VerDate Sep<11>2014 14:42 Jun 20, 2016 Jkt 238001 provisions.1 The proposed amendments in this rule are largely technical in nature or help to clarify NCUA’s practices with respect to disbursing money from the CDRLF. B. Section by Section Analysis § 705.1. Authority, Purpose and Scope. The Board proposes to reorganize this section to make it clearer, including deleting unnecessary provisions. These proposed amendments do not include any substantive changes. § 705.2. Definitions. The Board proposes to remove the definitions of the terms ‘‘Board,’’ ‘‘Credit Union,’’ and ‘‘Fund’’ from this section as these terms are defined elsewhere in part 705 or in part 700 of NCUA’s regulations.2 The Board also proposes to remove the cross-reference to § 705.6 in the definition of the term ‘‘Notice of Funding Opportunity’’ as unnecessary. § 705.5. Terms and Conditions. The Board proposes to add the words ‘‘for loans’’ to the title of this section to clarify that it only applies to CDRLF loans, and not technical assistance grants. As discussed in more detail below, the Board also proposes to add a separate ‘‘terms and conditions’’ section for technical assistance grants. This will improve the usability of the rule. Section 705.5(b) includes a maximum aggregate loan amount of $300,000 for CDRLF loans. The Board proposes to remove the dollar amount from this section, as it is unnecessary and inaccurate. NCUA may grant loans in any amount it sees fit. The dollar amount of individual CDRLF loans may continue to rise in connection with need and economic conditions. Rather than maintaining an outdated reference to a specific dollar amount in the rule, the Board proposes to amend the rule by providing that any CDRLF loan limits will be published in NCUA’s Notice of Funding Opportunity.3 This approach is more practical than having to update the rule each time the loan funding limit changes. The Board proposes to make a similar amendment with respect to technical assistance grants. The Board proposes to amend § 705.5(h) by adding ‘‘security agreements’’ to the list of terms and 1 76 FR 67583 (Nov. 2, 2011). CFR part 700. 3 Notice of Funding Opportunity, as more fully defined in § 705.6 of NCUA’s regulations, means the notice NCUA publishes describing one or more loan or technical assistance grant programs or initiatives being supported by the CDRLF and inviting interested qualifying credit unions to submit applications to participate in the program or initiative. 2 12 PO 00000 Frm 00002 Fmt 4702 Sfmt 4702 conditions that the section provides will be addressed in the related Notice of Funding Opportunity or applicable loan documents. The Board notes that this is not a substantive change, but rather reflects NCUA’s current practice of including other terms and conditions related to loans in a Notice of Funding Opportunity or loan documents, including security agreements. Current § 705.10. Technical assistance grants. Current § 705.10 contains some provisions detailing the terms and conditions that apply to technical assistance grants. The Board, proposes to simplify and condense this provision and to include most of that information in the Notice of Funding Opportunity. The amended regulatory language will then be redesignated as proposed § 705.6. This proposed amendment is not a substantive change. Rather, it is a reorganization that reflects NCUA’s preference to provide such pertinent information in a Notice of Funding Opportunity. The Board notes that these amendments preserve NCUA’s flexibility to issue grants based on the needs of credit unions. Current § 705.6. Application and award processes. In conformity with the above amendment regarding terms and conditions for technical assistance grants, the Board proposes to redesignate current § 705.6 as proposed § 705.7. Further, the Board proposes to amend the application and award processes provisions of current § 705.6 to more accurately reflect NCUA’s actual practices as follows. The Board proposes to remove any reference to NCUA publishing a Notice of Funding Opportunity on other government Web sites. NCUA is not legally required to do so and it currently does not do so. NCUA currently publishes a Notice of Funding Opportunity on its Web site and in the Federal Register. The Board also proposes to provide that NCUA uses press releases as one method of supplementing information in a Notice of Funding Opportunity. This amendment only clarifies current NCUA practice. The current rule states that NCUA will only provide a CDRLF loan or technical assistance grant with the concurrence of the applicable regional director.4 NCUA’s practice, however, is to only require regional director concurrence for loans, not technical assistance grants. Accordingly, the Board proposes to remove from the rule the current requirement for regional 4 12 E:\FR\FM\21JNP1.SGM CFR 705.6(c)(4). 21JNP1 Federal Register / Vol. 81, No. 119 / Tuesday, June 21, 2016 / Proposed Rules rmajette on DSK2TPTVN1PROD with PROPOSALS director concurrence for technical assistance grants. With respect to CDRLF loan approval for federally insured, state-chartered credit unions (FISCUs), the Board proposes to make the concurrence process more efficient. Specifically, rather than requiring a FISCU to obtain concurrence from its state supervisory authority (SSA) before NCUA considers the FISCU’s loan application, the Board proposes to clarify that, while SSA concurrence is still required, a FISCU is not required to obtain such concurrence before applying for a loan. Under this proposed rule, NCUA would obtain concurrence directly from the SSA rather than through the FISCU. However, the Board encourages a FISCU applying for a loan to notify its SSA of its application. This amendment will make the overall application process less burdensome for FISCUs. The Board proposes to reorganize and consolidate the disbursement provisions for loans (current § 705.6(g)) and technical assistance grants (current § 705.10) to better organize the rule. The Board also proposes to reorganize the appeals provisions and consolidate them into proposed § 705.10 (appeals). § 705.9. Reporting and Monitoring. This section requires all participating credit unions to report to their members their progress in providing community support. Credit unions are also required to submit a copy of any such report to NCUA. The Board notes, however, that NCUA’s current practice is only to monitor reports relating to CDRLF loans, not technical assistance grants. While the Board believes all credit unions should be as transparent as possible to members, the Board also wants to eliminate unnecessary burdens on participating credit unions. Therefore, the Board proposes to clarify that NCUA encourages rather than mandates credit union reporting to members with respect to technical assistance grants. This does not change the reporting requirement related to CDRLF loans. The Board notes that a credit union may satisfy the requirements of this section by using any method that results in all members receiving a copy of the written report, including emailing a copy of the report to members that have access to email. Regulatory Procedures Regulatory Flexibility Act The Regulatory Flexibility Act (RFA) requires NCUA to prepare an analysis to describe any significant economic impact any proposed regulation may have on a substantial number of small entities. NCUA considers credit unions VerDate Sep<11>2014 14:42 Jun 20, 2016 Jkt 238001 having less than ten million dollars in assets to be small for purposes of RFA. The proposed revisions to part 705 are designed to update and streamline the rule, thereby reducing the burden for credit unions that are seeking financial awards, whether in the form of a technical assistance grant or a loan. NCUA has determined and certifies that this proposed rule, if adopted, will not have a significant economic impact on a substantial number of small credit unions. Accordingly, the NCUA has determined that an RFA analysis is not required. Paperwork Reduction Act Executive Order 13132 Executive Order 13132 encourages independent regulatory agencies to consider the impact of their actions on state and local interests. In adherence to fundamental federalism principles, NCUA, an independent regulatory agency as defined in 44 U.S.C. 3502(5), voluntarily complies with the executive order. This rulemaking will not have a substantial direct effect on the states, on the connection between the national government and the states, or on the distribution of power and responsibilities among the various levels of government. NCUA has determined that this proposal does not constitute a policy that has federalism implications for purposes of the executive order. The Treasury and General Government Appropriations Act, 1999—Assessment of Federal Regulations and Policies on Families The NCUA has determined that this proposed rule will not affect family well-being within the meaning of section 654 of the Treasury and General Government Appropriations Act, 1999, Public Law 105–277, 112 Stat. 2681 (1998). List of Subjects in 12 CFR Part 705 Community programs, Credit unions, Grants, Loans, Low income, Revolving fund. Frm 00003 Fmt 4702 Sfmt 4702 By the National Credit Union Administration Board on June 16, 2016. Gerard Poliquin, Secretary of the Board. For the reasons stated above, NCUA proposes to amend 12 CFR part 705 as follows: PART 705—COMMUNITY DEVELOPMENT REVOLVING LOAN FUND FOR CREDIT UNIONS 1. The authority citation for part 705 continues to read as follows: ■ Authority: 12 U.S.C. 1756, 1757(5)(D), and (7)(I), 1766, 1782, 1784, 1785 and 1786. 2. Revise § 705.1(c) through (e) to read as follows: ■ The Paperwork Reduction Act of 1995 (PRA) applies to rulemakings in which an agency by rule creates a new paperwork burden or increases an existing burden. For purposes of the PRA, a paperwork burden may take the form of a reporting or recordkeeping requirement, both referred to as information collections. The proposed changes in this rulemaking are technical in nature and will not create new paperwork burdens or modify any existing paperwork burdens. PO 00000 40199 § 705.1 Authority, purpose, and scope. * * * * * (c) NCUA’s policy is to revolve the loan funds to credit unions as often as practical in order to achieve maximum economic impact on as many credit unions as possible. (d) The financial awards provided to credit unions through the Fund will better enable them to support the communities in which they operate; provide basic financial services to lowincome residents of these communities, and result in more opportunities for the residents of those communities to improve their financial circumstances. (e) The Fund is intended to support the efforts of credit unions through loans and technical assistance grants needed for: (1) Providing basic financial and related services to residents in their communities; (2) Enhancing their capacity to better serve their members and the communities in which they operate; and (3) Responding to emergencies. ■ 3. Revise § 705.2 to read as follows: § 705.2 Definitions. For purposes of this part, the following terms shall have the meanings assigned to them in this section. Application means a form supplied by the NCUA by which a Qualifying Credit Union may apply for a loan or a technical assistance grant from the Fund. Loan is an award in the form of an extension of credit from the Fund to a Participating Credit Union that must be repaid, with interest. Low-income Members are those members defined in § 701.34 of this chapter. Notice of Funding Opportunity means the Notice NCUA publishes describing one or more loan or technical assistance grant programs or initiatives currently being supported by the Fund and E:\FR\FM\21JNP1.SGM 21JNP1 40200 Federal Register / Vol. 81, No. 119 / Tuesday, June 21, 2016 / Proposed Rules inviting Qualifying Credit Unions to submit applications to participate in the program(s) or initiatives(s). Participating Credit Union refers to a Qualifying Credit Union that has submitted an application for a loan or a technical assistance grant from the Fund which has been approved by NCUA. A Participating Credit Union shall not be deemed to be an agency, department, or instrumentality of the United States because of its receipt of a financial award from the Fund. Program means the Community Development Revolving Loan Fund Program under which NCUA makes loans and technical assistance grants available to credit unions. Qualifying Credit Union means a credit union that may be, or has agreed to be, examined by NCUA, with a current low-income designation pursuant to § 701.34(a)(1) or § 741.204 of this chapter or, in the case of a nonfederally insured, state-chartered credit union, a low-income designation from a state regulator, made under appropriate state standards with the concurrence of NCUA. Services to low-income members must include, at a minimum, offering share accounts and loans. Technical Assistance Grant means an award of money from the Fund to a Participating Credit Union that does not have to be repaid. ■ 4. Amend § 705.5 by: ■ a. Revising the section heading and paragraph (b); and ■ b. In paragraph (h) adding the words ‘‘security agreements (if any),’’ between the words ‘‘repayment obligations,’’ and ‘‘and covenants’’. The revisions read as follows: § 705.5 Terms and conditions for loans. * * * * * (b) Funding limits. NCUA will publish any applicable loan funding limits in the applicable Notice of Funding Opportunity. * * * * * §§ 705.6 and 705.7 [Redesignated as §§ 705.7 and 705.8] 5. Redesignate §§ 705.6 and 705.7 as §§ 705.7 and 705.8, respectively. ■ 6. Add new § 705.6 to read as follows: ■ rmajette on DSK2TPTVN1PROD with PROPOSALS § 705.6 Terms and conditions for technical assistance grants. (a) Participating Credit Unions must comply with the terms and conditions for technical assistance grants specified for each funding opportunity offered under a Notice of Funding Opportunity. (b) NCUA will establish applicable funding limits for technical assistance grants in the Notice of Funding Opportunity. VerDate Sep<11>2014 14:42 Jun 20, 2016 Jkt 238001 7. Amend newly redesignated § 705.7 by revising paragraphs (a), (c)(4), (f), and (g) to read as follows: ■ § 705.7 Application and award processes. (a) Notice of Funding Opportunity. NCUA will publish a Notice of Funding Opportunity in the Federal Register and on its Web site. The Notice of Funding Opportunity will describe the loan and technical assistance grant programs for the period in which funds are available. It also will announce special initiatives, the amount of funds available, funding priorities, permissible uses of funds, funding limits, deadlines, and other pertinent details. The Notice of Funding Opportunity will also advise potential applicants on how to obtain an Application and related materials. NCUA may supplement the information contained in the Notice of Funding Opportunity through such other media as it determines appropriate, including Letters to Credit Unions, press releases, direct notices to Qualifying Credit Unions, and announcements on its Web site. * * * * * (c) * * * (4) Examination information and applicable concurrence. In evaluating a Qualifying Credit Union, NCUA will consider all information provided by NCUA staff or state supervisory authority staff that performed the Qualifying Credit Union’s most recent examination. In addition: (i) NCUA will only provide a loan to a qualifying federal credit union with the concurrence of that credit union’s supervising Regional Director; and (ii) NCUA will only provide a loan to a qualifying state-charted credit union with the written concurrence of the applicable Regional Director and the credit union’s state supervisory authority. A qualifying state-chartered credit union should notify its state supervisory authority that it is applying for a loan from the Fund before submitting its application to NCUA. However, a qualifying state-chartered credit union is not required to obtain concurrence before applying for a loan. NCUA will obtain the concurrence directly from the state supervisory authority rather than through the qualifying state-chartered credit union. Additionally, before NCUA will provide a loan to a qualifying state-charted credit union the credit union must make copies of its state examination reports available to NCUA and agree to examination by NCUA. * * * * * (f) Notice of award. NCUA will determine whether an application meets PO 00000 Frm 00004 Fmt 4702 Sfmt 4702 NCUA’s standards established by this part and the related Notice of Funding Opportunity. NCUA will provide written notice to a Qualifying Credit Union as to whether or not it has qualified for a loan or technical assistance grant under this part. A Qualifying Credit Union whose application has been denied for failure of a qualification may appeal that decision in accordance with § 705.10. (g) Disbursement—(1) Loans. Before NCUA will disburse a loan, the Participating Credit Union must sign the loan agreement, promissory note, and any other loan related documents. NCUA may, in its discretion, choose not to disburse the entire amount of the loan at once. (2) Technical assistance grants. NCUA will disburse technical assistance grants in such amounts, and in accordance with such terms and conditions, as NCUA may establish. In general, technical assistance grants are provided on a reimbursement basis, to cover expenditures approved in advance by NCUA and supported by receipts evidencing payment by the Participating Credit Union. ■ 8. Revise § 705.9(b) to read as follows: § 705.9 Reporting and monitoring. * * * * * (b) Reporting—(1) Reporting to NCUA. A Participating Credit Union must complete and submit to NCUA all required reports, at such times and in such formats as NCUA will direct. Such reports must describe how the Participating Credit Union has used the loan or technical assistance grant proceeds and the results it has obtained, in relation to the programs, policies, or initiatives identified by the Participating Credit Union in its application. NCUA may request additional information as it determines appropriate. (2) Reporting to members.—(i) Loans. A Participating Credit Union that receives a loan under this part must report on the progress of providing needed community services to the Participating Credit Union’s members once a year, either at the annual meeting or in a written report sent to all members. The Participating Credit Union must also submit to NCUA the written report or a summary of the report provided to members. (ii) Technical assistance grants. A Participating Credit Union that receives a technical assistance grant under this part should report on the progress of providing needed community services to the Participating Credit Union’s members once a year, either at the E:\FR\FM\21JNP1.SGM 21JNP1 Federal Register / Vol. 81, No. 119 / Tuesday, June 21, 2016 / Proposed Rules annual meeting or in a written report sent to all members. * * * * * ■ 9. Revise § 705.10 to read as follows: § 705.10 Notice of proposed rulemaking (NPRM). ACTION: Appeals. (a) Appeals of non-qualification. A Qualifying Credit Union whose application for a loan or technical assistance grant has been denied, under § 705.7(f), for failure of a qualification may appeal that decision to the NCUA Board in accordance with the following: (1) Within thirty days of its receipt of a notice of non-qualification, a credit union may appeal the decision to the NCUA Board. The scope of the NCUA Board’s review is limited to the threshold question of qualification and not the issue of whether, among qualified applicants, a particular loan or technical assistance grant is funded. (2) The foregoing procedure shall apply only with respect to Applications received by NCUA during an open period in which funds are available and NCUA has called for Applications. Any Application submitted by an applicant during a period in which NCUA has not called for Applications will be rejected, except for those Applications submitted under § 705.8. Any such rejection shall not be subject to appeal or review by the NCUA Board. (b) Appeals of technical assistance grant reimbursement denials. Pursuant to NCUA Interpretative Ruling and Policy Statement 11–1, any Participating Credit Union may appeal a denial of a technical assistance grant reimbursement to NCUA’s Supervisory Review Committee. All appeals of technical assistance grant reimbursements must be submitted to the Supervisory Review Committee within 30 days from the date of the denial. The decisions of the Supervisory Review Committee are final and may not be appealed to the NCUA Board. [FR Doc. 2016–14718 Filed 6–20–16; 8:45 am] BILLING CODE 7535–01–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration rmajette on DSK2TPTVN1PROD with PROPOSALS 14 CFR Part 39 [Docket No. FAA–2016–7264; Directorate Identifier 2015–NM–185–AD] RIN 2120–AA64 Airworthiness Directives; Airbus Airplanes Federal Aviation Administration (FAA), DOT. AGENCY: VerDate Sep<11>2014 14:42 Jun 20, 2016 Jkt 238001 We propose to adopt a new airworthiness directive (AD) for certain Airbus Model A330–200, –200 Freighter, and –300 series airplanes; and Model A340–500 and –600 series airplanes. This proposed AD was prompted by a quality control review on the final assembly line, which determined that the wrong aluminum alloy was used to manufacture several structural parts. This proposed AD would require a one-time eddy current conductivity measurement of certain cabin and cargo compartment structural parts to determine if an incorrect aluminum alloy was used, and replacement of any affected part with a serviceable part. We are proposing this AD to detect and replace structural parts made of incorrect aluminum alloy. This condition could result in reduced structural integrity of the airplane. DATES: We must receive comments on this proposed AD by August 5, 2016. ADDRESSES: You may send comments, using the procedures found in 14 CFR 11.43 and 11.45, by any of the following methods: • Federal eRulemaking Portal: Go to http://www.regulations.gov. Follow the instructions for submitting comments. • Fax: 202–493–2251. • Mail: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE., Washington, DC 20590. • Hand Delivery: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. For service information identified in this NPRM, contact Airbus SAS, Airworthiness Office—EAL, 1 Rond Point Maurice Bellonte, 31707 Blagnac Cedex, France; telephone +33 5 61 93 36 96; fax +33 5 61 93 45 80; email airworthiness.A330–A340@airbus.com; Internet http://www.airbus.com. You may view this referenced service information at the FAA, Transport Airplane Directorate, 1601 Lind Avenue SW., Renton, WA. For information on the availability of this material at the FAA, call 425–227–1221. SUMMARY: Examining the AD Docket You may examine the AD docket on the Internet at http:// www.regulations.gov by searching for and locating Docket No. FAA–2016– 7264; or in person at the Docket Management Facility between 9 a.m. PO 00000 Frm 00005 Fmt 4702 Sfmt 4702 40201 and 5 p.m., Monday through Friday, except Federal holidays. The AD docket contains this proposed AD, the regulatory evaluation, any comments received, and other information. The street address for the Docket Operations office (telephone 800–647–5527) is in the ADDRESSES section. Comments will be available in the AD docket shortly after receipt. FOR FURTHER INFORMATION CONTACT: Vladimir Ulyanov, Aerospace Engineer, International Branch, ANM–116, Transport Airplane Directorate, FAA, 1601 Lind Avenue SW., Renton, WA 98057–3356; telephone 425–227–1138; fax 425–227–1149. SUPPLEMENTARY INFORMATION: Comments Invited We invite you to send any written relevant data, views, or arguments about this proposed AD. Send your comments to an address listed under the ADDRESSES section. Include ‘‘Docket No. FAA–2016–7264; Directorate Identifier 2015–NM–185–AD’’ at the beginning of your comments. We specifically invite comments on the overall regulatory, economic, environmental, and energy aspects of this proposed AD. We will consider all comments received by the closing date and may amend this proposed AD based on those comments. We will post all comments we receive, without change, to http:// www.regulations.gov, including any personal information you provide. We will also post a report summarizing each substantive verbal contact we receive about this proposed AD. Discussion The European Aviation Safety Agency (EASA), which is the Technical Agent for the Member States of the European Union, has issued EASA Airworthiness Directive 2015–0206, dated October 12, 2015 (referred to after this as the Mandatory Continuing Airworthiness Information, or ‘‘the MCAI’’), to correct an unsafe condition for certain Airbus Model A330–200, –200 Freighter, and –300 series airplanes; and Model A340– 500 and –600 series airplanes. The MCAI states: Following an Airbus quality control review on the final assembly line, it was discovered that wrong aluminum alloy was used to manufacture several structural parts. This condition, if not detected and corrected, could reduce the structural integrity of the aeroplane. To address this potential unsafe condition, Airbus issued Service Bulletin (SB) A330– 53–3261, SB A330–53–3262, and SB A340– 53–5072, as applicable to aeroplane type, to provide instructions to identify the affected parts. E:\FR\FM\21JNP1.SGM 21JNP1

Agencies

[Federal Register Volume 81, Number 119 (Tuesday, June 21, 2016)]
[Proposed Rules]
[Pages 40197-40201]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-14718]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 705

RIN 3133-AE58


Community Development Revolving Loan Fund

AGENCY: National Credit Union Administration (NCUA).

ACTION: Proposed rule.

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SUMMARY: The NCUA Board (Board) proposes to make several technical 
amendments to NCUA's rule governing the Community Development Revolving 
Loan Fund (CDRLF). The proposed amendments would make the rule more 
succinct and update it to improve its transparency, organization, and 
ease of use by credit unions.

DATES: Comments must be received on or before August 22, 2016.

[[Page 40198]]


ADDRESSES: You may submit comments by any of the following methods 
(Please send comments by one method only):
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     NCUA Web site: https://www.ncua.gov/regulation-supervision/Pages/rules/proposed.aspx. Follow the instructions for 
submitting comments.
     Email: Address to regcomments@ncua.gov. Include ``[Your 
name] Comments on Proposed Rule 705, CDRLF Amendments'' in the email 
subject line.
     Fax: (703) 518-6319. Use the subject line described above 
for email.
     Mail: Address to Gerard Poliquin, Secretary of the Board, 
National Credit Union Administration, 1775 Duke Street, Alexandria, 
Virginia 22314-3428.
     Hand Delivery/Courier: Same as mail address.

FOR FURTHER INFORMATION CONTACT: Geetha Valiyil, Manager, Grants and 
Loans, Office of Small Credit Union Initiatives, or Justin Anderson, 
Senior Staff Attorney, Office of General Counsel, at 1775 Duke Street, 
Alexandria, VA 22314 or telephone (703) 518-6645 (Ms. Valiyil) or (703) 
518-6540 (Mr. Anderson).

SUPPLEMENTARY INFORMATION: 

A. Background

    Congress created the CDRLF in 1979 with an initial appropriation of 
$6 million and transferred its exclusive administration to NCUA in 
1986. The CDRLF is a source of financial support, in the form of loans 
and technical assistance grants, for credit unions serving 
predominantly low-income members. It also serves as a source of funding 
to help low-income credit unions respond to emergencies arising in 
their communities. The Board has delegated authority to the Office of 
Small Credit Union Initiatives to determine how to allocate the finite 
resources of the CDRLF among qualifying credit unions. Awards provided 
through the CDRLF have strengthened credit unions by enabling them to 
increase their capacity to support the communities in which they 
operate. This increased capacity has allowed credit unions to provide 
basic financial services to low-income residents in those communities, 
resulting in more opportunities for residents to improve their 
financial circumstances.
    In 2011, the Board substantially revised Part 705 to make the rule 
clearer and more user friendly, as well as to eliminate outdated and 
unnecessary provisions.\1\ The proposed amendments in this rule are 
largely technical in nature or help to clarify NCUA's practices with 
respect to disbursing money from the CDRLF.
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    \1\ 76 FR 67583 (Nov. 2, 2011).
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B. Section by Section Analysis

    Sec.  705.1. Authority, Purpose and Scope. The Board proposes to 
reorganize this section to make it clearer, including deleting 
unnecessary provisions. These proposed amendments do not include any 
substantive changes.
    Sec.  705.2. Definitions. The Board proposes to remove the 
definitions of the terms ``Board,'' ``Credit Union,'' and ``Fund'' from 
this section as these terms are defined elsewhere in part 705 or in 
part 700 of NCUA's regulations.\2\ The Board also proposes to remove 
the cross-reference to Sec.  705.6 in the definition of the term 
``Notice of Funding Opportunity'' as unnecessary.
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    \2\ 12 CFR part 700.
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    Sec.  705.5. Terms and Conditions. The Board proposes to add the 
words ``for loans'' to the title of this section to clarify that it 
only applies to CDRLF loans, and not technical assistance grants. As 
discussed in more detail below, the Board also proposes to add a 
separate ``terms and conditions'' section for technical assistance 
grants. This will improve the usability of the rule.
    Section 705.5(b) includes a maximum aggregate loan amount of 
$300,000 for CDRLF loans. The Board proposes to remove the dollar 
amount from this section, as it is unnecessary and inaccurate. NCUA may 
grant loans in any amount it sees fit. The dollar amount of individual 
CDRLF loans may continue to rise in connection with need and economic 
conditions. Rather than maintaining an outdated reference to a specific 
dollar amount in the rule, the Board proposes to amend the rule by 
providing that any CDRLF loan limits will be published in NCUA's Notice 
of Funding Opportunity.\3\ This approach is more practical than having 
to update the rule each time the loan funding limit changes. The Board 
proposes to make a similar amendment with respect to technical 
assistance grants.
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    \3\ Notice of Funding Opportunity, as more fully defined in 
Sec.  705.6 of NCUA's regulations, means the notice NCUA publishes 
describing one or more loan or technical assistance grant programs 
or initiatives being supported by the CDRLF and inviting interested 
qualifying credit unions to submit applications to participate in 
the program or initiative.
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    The Board proposes to amend Sec.  705.5(h) by adding ``security 
agreements'' to the list of terms and conditions that the section 
provides will be addressed in the related Notice of Funding Opportunity 
or applicable loan documents. The Board notes that this is not a 
substantive change, but rather reflects NCUA's current practice of 
including other terms and conditions related to loans in a Notice of 
Funding Opportunity or loan documents, including security agreements.
    Current Sec.  705.10. Technical assistance grants. Current Sec.  
705.10 contains some provisions detailing the terms and conditions that 
apply to technical assistance grants. The Board, proposes to simplify 
and condense this provision and to include most of that information in 
the Notice of Funding Opportunity. The amended regulatory language will 
then be redesignated as proposed Sec.  705.6. This proposed amendment 
is not a substantive change. Rather, it is a reorganization that 
reflects NCUA's preference to provide such pertinent information in a 
Notice of Funding Opportunity. The Board notes that these amendments 
preserve NCUA's flexibility to issue grants based on the needs of 
credit unions.
    Current Sec.  705.6. Application and award processes. In conformity 
with the above amendment regarding terms and conditions for technical 
assistance grants, the Board proposes to redesignate current Sec.  
705.6 as proposed Sec.  705.7. Further, the Board proposes to amend the 
application and award processes provisions of current Sec.  705.6 to 
more accurately reflect NCUA's actual practices as follows.
    The Board proposes to remove any reference to NCUA publishing a 
Notice of Funding Opportunity on other government Web sites. NCUA is 
not legally required to do so and it currently does not do so. NCUA 
currently publishes a Notice of Funding Opportunity on its Web site and 
in the Federal Register. The Board also proposes to provide that NCUA 
uses press releases as one method of supplementing information in a 
Notice of Funding Opportunity. This amendment only clarifies current 
NCUA practice.
    The current rule states that NCUA will only provide a CDRLF loan or 
technical assistance grant with the concurrence of the applicable 
regional director.\4\ NCUA's practice, however, is to only require 
regional director concurrence for loans, not technical assistance 
grants. Accordingly, the Board proposes to remove from the rule the 
current requirement for regional

[[Page 40199]]

director concurrence for technical assistance grants.
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    \4\ 12 CFR 705.6(c)(4).
---------------------------------------------------------------------------

    With respect to CDRLF loan approval for federally insured, state-
chartered credit unions (FISCUs), the Board proposes to make the 
concurrence process more efficient. Specifically, rather than requiring 
a FISCU to obtain concurrence from its state supervisory authority 
(SSA) before NCUA considers the FISCU's loan application, the Board 
proposes to clarify that, while SSA concurrence is still required, a 
FISCU is not required to obtain such concurrence before applying for a 
loan. Under this proposed rule, NCUA would obtain concurrence directly 
from the SSA rather than through the FISCU. However, the Board 
encourages a FISCU applying for a loan to notify its SSA of its 
application. This amendment will make the overall application process 
less burdensome for FISCUs.
    The Board proposes to reorganize and consolidate the disbursement 
provisions for loans (current Sec.  705.6(g)) and technical assistance 
grants (current Sec.  705.10) to better organize the rule. The Board 
also proposes to reorganize the appeals provisions and consolidate them 
into proposed Sec.  705.10 (appeals).
    Sec.  705.9. Reporting and Monitoring. This section requires all 
participating credit unions to report to their members their progress 
in providing community support. Credit unions are also required to 
submit a copy of any such report to NCUA. The Board notes, however, 
that NCUA's current practice is only to monitor reports relating to 
CDRLF loans, not technical assistance grants. While the Board believes 
all credit unions should be as transparent as possible to members, the 
Board also wants to eliminate unnecessary burdens on participating 
credit unions. Therefore, the Board proposes to clarify that NCUA 
encourages rather than mandates credit union reporting to members with 
respect to technical assistance grants. This does not change the 
reporting requirement related to CDRLF loans. The Board notes that a 
credit union may satisfy the requirements of this section by using any 
method that results in all members receiving a copy of the written 
report, including emailing a copy of the report to members that have 
access to email.

Regulatory Procedures

Regulatory Flexibility Act

    The Regulatory Flexibility Act (RFA) requires NCUA to prepare an 
analysis to describe any significant economic impact any proposed 
regulation may have on a substantial number of small entities. NCUA 
considers credit unions having less than ten million dollars in assets 
to be small for purposes of RFA. The proposed revisions to part 705 are 
designed to update and streamline the rule, thereby reducing the burden 
for credit unions that are seeking financial awards, whether in the 
form of a technical assistance grant or a loan. NCUA has determined and 
certifies that this proposed rule, if adopted, will not have a 
significant economic impact on a substantial number of small credit 
unions. Accordingly, the NCUA has determined that an RFA analysis is 
not required.

Paperwork Reduction Act

    The Paperwork Reduction Act of 1995 (PRA) applies to rulemakings in 
which an agency by rule creates a new paperwork burden or increases an 
existing burden. For purposes of the PRA, a paperwork burden may take 
the form of a reporting or recordkeeping requirement, both referred to 
as information collections. The proposed changes in this rulemaking are 
technical in nature and will not create new paperwork burdens or modify 
any existing paperwork burdens.

Executive Order 13132

    Executive Order 13132 encourages independent regulatory agencies to 
consider the impact of their actions on state and local interests. In 
adherence to fundamental federalism principles, NCUA, an independent 
regulatory agency as defined in 44 U.S.C. 3502(5), voluntarily complies 
with the executive order. This rulemaking will not have a substantial 
direct effect on the states, on the connection between the national 
government and the states, or on the distribution of power and 
responsibilities among the various levels of government. NCUA has 
determined that this proposal does not constitute a policy that has 
federalism implications for purposes of the executive order.

The Treasury and General Government Appropriations Act, 1999--
Assessment of Federal Regulations and Policies on Families

    The NCUA has determined that this proposed rule will not affect 
family well-being within the meaning of section 654 of the Treasury and 
General Government Appropriations Act, 1999, Public Law 105-277, 112 
Stat. 2681 (1998).

List of Subjects in 12 CFR Part 705

    Community programs, Credit unions, Grants, Loans, Low income, 
Revolving fund.

    By the National Credit Union Administration Board on June 16, 
2016.
Gerard Poliquin,
Secretary of the Board.
    For the reasons stated above, NCUA proposes to amend 12 CFR part 
705 as follows:

PART 705--COMMUNITY DEVELOPMENT REVOLVING LOAN FUND FOR CREDIT 
UNIONS

0
1. The authority citation for part 705 continues to read as follows:

    Authority:  12 U.S.C. 1756, 1757(5)(D), and (7)(I), 1766, 1782, 
1784, 1785 and 1786.

0
2. Revise Sec.  705.1(c) through (e) to read as follows:


Sec.  705.1  Authority, purpose, and scope.

* * * * *
    (c) NCUA's policy is to revolve the loan funds to credit unions as 
often as practical in order to achieve maximum economic impact on as 
many credit unions as possible.
    (d) The financial awards provided to credit unions through the Fund 
will better enable them to support the communities in which they 
operate; provide basic financial services to low-income residents of 
these communities, and result in more opportunities for the residents 
of those communities to improve their financial circumstances.
    (e) The Fund is intended to support the efforts of credit unions 
through loans and technical assistance grants needed for:
    (1) Providing basic financial and related services to residents in 
their communities;
    (2) Enhancing their capacity to better serve their members and the 
communities in which they operate; and
    (3) Responding to emergencies.
0
3. Revise Sec.  705.2 to read as follows:


Sec.  705.2  Definitions.

    For purposes of this part, the following terms shall have the 
meanings assigned to them in this section.
    Application means a form supplied by the NCUA by which a Qualifying 
Credit Union may apply for a loan or a technical assistance grant from 
the Fund.
    Loan is an award in the form of an extension of credit from the 
Fund to a Participating Credit Union that must be repaid, with 
interest.
    Low-income Members are those members defined in Sec.  701.34 of 
this chapter.
    Notice of Funding Opportunity means the Notice NCUA publishes 
describing one or more loan or technical assistance grant programs or 
initiatives currently being supported by the Fund and

[[Page 40200]]

inviting Qualifying Credit Unions to submit applications to participate 
in the program(s) or initiatives(s).
    Participating Credit Union refers to a Qualifying Credit Union that 
has submitted an application for a loan or a technical assistance grant 
from the Fund which has been approved by NCUA. A Participating Credit 
Union shall not be deemed to be an agency, department, or 
instrumentality of the United States because of its receipt of a 
financial award from the Fund.
    Program means the Community Development Revolving Loan Fund Program 
under which NCUA makes loans and technical assistance grants available 
to credit unions.
    Qualifying Credit Union means a credit union that may be, or has 
agreed to be, examined by NCUA, with a current low-income designation 
pursuant to Sec.  701.34(a)(1) or Sec.  741.204 of this chapter or, in 
the case of a non-federally insured, state-chartered credit union, a 
low-income designation from a state regulator, made under appropriate 
state standards with the concurrence of NCUA. Services to low-income 
members must include, at a minimum, offering share accounts and loans.
    Technical Assistance Grant means an award of money from the Fund to 
a Participating Credit Union that does not have to be repaid.
0
4. Amend Sec.  705.5 by:
0
a. Revising the section heading and paragraph (b); and
0
b. In paragraph (h) adding the words ``security agreements (if any),'' 
between the words ``repayment obligations,'' and ``and covenants''.
    The revisions read as follows:


Sec.  705.5  Terms and conditions for loans.

* * * * *
    (b) Funding limits. NCUA will publish any applicable loan funding 
limits in the applicable Notice of Funding Opportunity.
* * * * *


Sec. Sec.  705.6 and 705.7   [Redesignated as Sec. Sec.  705.7 and 
705.8]

0
5. Redesignate Sec. Sec.  705.6 and 705.7 as Sec. Sec.  705.7 and 
705.8, respectively.
0
6. Add new Sec.  705.6 to read as follows:


Sec.  705.6  Terms and conditions for technical assistance grants.

    (a) Participating Credit Unions must comply with the terms and 
conditions for technical assistance grants specified for each funding 
opportunity offered under a Notice of Funding Opportunity.
    (b) NCUA will establish applicable funding limits for technical 
assistance grants in the Notice of Funding Opportunity.
0
7. Amend newly redesignated Sec.  705.7 by revising paragraphs (a), 
(c)(4), (f), and (g) to read as follows:


Sec.  705.7  Application and award processes.

    (a) Notice of Funding Opportunity. NCUA will publish a Notice of 
Funding Opportunity in the Federal Register and on its Web site. The 
Notice of Funding Opportunity will describe the loan and technical 
assistance grant programs for the period in which funds are available. 
It also will announce special initiatives, the amount of funds 
available, funding priorities, permissible uses of funds, funding 
limits, deadlines, and other pertinent details. The Notice of Funding 
Opportunity will also advise potential applicants on how to obtain an 
Application and related materials. NCUA may supplement the information 
contained in the Notice of Funding Opportunity through such other media 
as it determines appropriate, including Letters to Credit Unions, press 
releases, direct notices to Qualifying Credit Unions, and announcements 
on its Web site.
* * * * *
    (c) * * *
    (4) Examination information and applicable concurrence. In 
evaluating a Qualifying Credit Union, NCUA will consider all 
information provided by NCUA staff or state supervisory authority staff 
that performed the Qualifying Credit Union's most recent examination. 
In addition:
    (i) NCUA will only provide a loan to a qualifying federal credit 
union with the concurrence of that credit union's supervising Regional 
Director; and
    (ii) NCUA will only provide a loan to a qualifying state-charted 
credit union with the written concurrence of the applicable Regional 
Director and the credit union's state supervisory authority. A 
qualifying state-chartered credit union should notify its state 
supervisory authority that it is applying for a loan from the Fund 
before submitting its application to NCUA. However, a qualifying state-
chartered credit union is not required to obtain concurrence before 
applying for a loan. NCUA will obtain the concurrence directly from the 
state supervisory authority rather than through the qualifying state-
chartered credit union. Additionally, before NCUA will provide a loan 
to a qualifying state-charted credit union the credit union must make 
copies of its state examination reports available to NCUA and agree to 
examination by NCUA.
* * * * *
    (f) Notice of award. NCUA will determine whether an application 
meets NCUA's standards established by this part and the related Notice 
of Funding Opportunity. NCUA will provide written notice to a 
Qualifying Credit Union as to whether or not it has qualified for a 
loan or technical assistance grant under this part. A Qualifying Credit 
Union whose application has been denied for failure of a qualification 
may appeal that decision in accordance with Sec.  705.10.
    (g) Disbursement--(1) Loans. Before NCUA will disburse a loan, the 
Participating Credit Union must sign the loan agreement, promissory 
note, and any other loan related documents. NCUA may, in its 
discretion, choose not to disburse the entire amount of the loan at 
once.
    (2) Technical assistance grants. NCUA will disburse technical 
assistance grants in such amounts, and in accordance with such terms 
and conditions, as NCUA may establish. In general, technical assistance 
grants are provided on a reimbursement basis, to cover expenditures 
approved in advance by NCUA and supported by receipts evidencing 
payment by the Participating Credit Union.
0
8. Revise Sec.  705.9(b) to read as follows:


Sec.  705.9  Reporting and monitoring.

* * * * *
    (b) Reporting--(1) Reporting to NCUA. A Participating Credit Union 
must complete and submit to NCUA all required reports, at such times 
and in such formats as NCUA will direct. Such reports must describe how 
the Participating Credit Union has used the loan or technical 
assistance grant proceeds and the results it has obtained, in relation 
to the programs, policies, or initiatives identified by the 
Participating Credit Union in its application. NCUA may request 
additional information as it determines appropriate.
    (2) Reporting to members.--(i) Loans. A Participating Credit Union 
that receives a loan under this part must report on the progress of 
providing needed community services to the Participating Credit Union's 
members once a year, either at the annual meeting or in a written 
report sent to all members. The Participating Credit Union must also 
submit to NCUA the written report or a summary of the report provided 
to members.
    (ii) Technical assistance grants. A Participating Credit Union that 
receives a technical assistance grant under this part should report on 
the progress of providing needed community services to the 
Participating Credit Union's members once a year, either at the

[[Page 40201]]

annual meeting or in a written report sent to all members.
* * * * *
0
9. Revise Sec.  705.10 to read as follows:


Sec.  705.10  Appeals.

    (a) Appeals of non-qualification. A Qualifying Credit Union whose 
application for a loan or technical assistance grant has been denied, 
under Sec.  705.7(f), for failure of a qualification may appeal that 
decision to the NCUA Board in accordance with the following:
    (1) Within thirty days of its receipt of a notice of non-
qualification, a credit union may appeal the decision to the NCUA 
Board. The scope of the NCUA Board's review is limited to the threshold 
question of qualification and not the issue of whether, among qualified 
applicants, a particular loan or technical assistance grant is funded.
    (2) The foregoing procedure shall apply only with respect to 
Applications received by NCUA during an open period in which funds are 
available and NCUA has called for Applications. Any Application 
submitted by an applicant during a period in which NCUA has not called 
for Applications will be rejected, except for those Applications 
submitted under Sec.  705.8. Any such rejection shall not be subject to 
appeal or review by the NCUA Board.
    (b) Appeals of technical assistance grant reimbursement denials. 
Pursuant to NCUA Interpretative Ruling and Policy Statement 11-1, any 
Participating Credit Union may appeal a denial of a technical 
assistance grant reimbursement to NCUA's Supervisory Review Committee. 
All appeals of technical assistance grant reimbursements must be 
submitted to the Supervisory Review Committee within 30 days from the 
date of the denial. The decisions of the Supervisory Review Committee 
are final and may not be appealed to the NCUA Board.

[FR Doc. 2016-14718 Filed 6-20-16; 8:45 am]
 BILLING CODE 7535-01-P