National Credit Union Administration – Federal Register Recent Federal Regulation Documents

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Submission for OMB Review; Comment Request
Document Number: 2021-03914
Type: Notice
Date: 2021-02-25
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will be submitting the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995 on or after the date of publication of this notice.
Joint Ownership Share Accounts
Document Number: 2021-03671
Type: Rule
Date: 2021-02-24
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending its share insurance regulation governing the requirements for a share account to be separately insured as a joint account by the National Credit Union Share Insurance Fund (NCUSIF). Specifically, the final rule provides an alternative method to satisfy the membership card or account signature card requirement necessary for insurance coverage (signature card requirement). Under the final rule, even if an insured credit union cannot produce membership cards or account signature cards signed by the joint accountholders, the signature card requirement can be satisfied by information contained in the account records of the insured credit union establishing co-ownership of the share account. For example, the signature card requirement can be satisfied by the credit union having issued a mechanism for accessing the account, such as a debit card, to each co-owner or evidence of usage of the joint share account by each co-owner.
Risk-Based Net Worth-COVID-19 Regulatory Relief
Document Number: 2021-01400
Type: Proposed Rule
Date: 2021-02-23
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing this proposal to raise the asset threshold for defining a credit union as ``complex'' for purposes of being subject to any risk-based net worth requirement in the NCUA's regulations. The proposed rule would amend the NCUA's regulations to provide that any risk-based net worth requirement will be applicable only to a federally insured natural-person credit union (credit union) with quarter-end assets that exceed $500 million and a risk-based net worth requirement that exceeds six percent. The COVID-19 pandemic has created a vital need for financial institutions, including credit unions, to provide access to responsible credit and other member services to support consumers. Implementing this regulatory change in advance of January 1, 2022, the effective date of the 2015 final risk based capital (RBC) rule issued by the NCUA, would provide necessary capital relief to a significant number of credit unions without substantially decreasing the safety and soundness of credit unions or the National Credit Union Share Insurance Fund (NCUSIF).
Corporate Credit Unions
Document Number: 2021-01399
Type: Rule
Date: 2021-02-23
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing a final rule that amends the NCUA's corporate credit union regulation. The final rule updates the definitions in this regulation and makes clear that corporate credit unions may purchase subordinated debt instruments issued by natural person credit unions. The final rule also specifies the capital treatment of these instruments for corporate credit unions that purchase them.
Subordinated Debt
Document Number: 2020-28281
Type: Rule
Date: 2021-02-23
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending various parts of the NCUA's regulations to permit Low-income Designated Credit Unions, Complex Credit Unions, and New Credit Unions to issue Subordinated Debt for purposes of Regulatory Capital treatment. The Board issued the proposed Subordinated Debt rule at its January 2020 meeting. The Board is finalizing the rule largely as proposed, except for a few changes to various sections based on comments received. Such changes include amending the definition of Accredited Investor, providing a longer timeframe in which a credit union may issue Subordinated Debt after approval, reducing the required number of years of Pro Forma Financial Statements an Issuing Credit Union must provide with its application, clarifying the prohibition on Subordinated Debt issuances outside of the United States, and clarifying that the Board will publish a fee schedule only if it makes a determination to charge a fee.
Sunshine Act Meetings
Document Number: 2021-03211
Type: Notice
Date: 2021-02-17
Agency: National Credit Union Administration, Agencies and Commissions
Submission for OMB Review; Comment Request
Document Number: 2021-02954
Type: Notice
Date: 2021-02-12
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice.
Submission for OMB Review; Comment Request
Document Number: 2021-02450
Type: Notice
Date: 2021-02-05
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will be submitting the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995 on or after the date of publication of this notice.
Role of Supervisory Guidance
Document Number: 2021-01867
Type: Rule
Date: 2021-02-03
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board is adopting a final rule that codifies the Interagency Statement Clarifying the Role of Supervisory Guidance, issued by the NCUA, Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve (the Board), the Office of Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (Bureau) (collectively, the agencies) on September 11, 2018 (2018 Statement). By codifying the 2018 Statement, with amendments, the final rule confirms that the NCUA will continue to follow and respect the limits of administrative law in carrying out their supervisory responsibilities. The 2018 Statement reiterated well-established law by stating that, unlike a law or regulation, supervisory guidance does not have the force and effect of law. As such, supervisory guidance does not create binding legal obligations for the public. Because it is incorporated into the final rule, the 2018 Statement, as amended, is binding on the NCUA. The final rule adopts the rule as proposed without change.
Bank Secrecy Act
Document Number: 2021-00048
Type: Proposed Rule
Date: 2021-01-22
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is inviting comment on a proposed rule that would modify the requirements for federally insured credit unions (FICUs) to file Suspicious Activity Reports (SARs). The proposed rule would amend the NCUA's SARs regulation to allow the Board to issue exemptions from the requirements of that regulation in order to grant relief to FICUs that develop innovative solutions to meet the requirements of the Bank Secrecy Act (BSA).
Sunshine Act Meeting
Document Number: 2021-00473
Type: Notice
Date: 2021-01-11
Agency: National Credit Union Administration, Agencies and Commissions
Chartering and Field of Membership-Shared Facility Requirements
Document Number: 2020-28277
Type: Proposed Rule
Date: 2021-01-11
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend its chartering and field of membership (``FOM'') rules to modernize requirements related to service facilities for multiple common bond (``MCB'') federal credit unions (``FCUs''). The Board is proposing to include any shared branch, shared ATM, or shared electronic facility in the definition of ``service facility'' for an FCU that participates in a shared branching network. The FCU need not be an owner of the shared branch network for the shared branch or shared ATM to be a service facility. These changes would apply to the definition of service facility both for additions of select groups to MCB FCUs and for expansions into underserved areas.
Request for Information on NCUA Communications and Transparency
Document Number: 2020-29270
Type: Notice
Date: 2021-01-08
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA is seeking comments and information from interested parties on the NCUA's communication methods and related initiatives to promote efficiency and increase transparency.
Civil Monetary Penalty Inflation Adjustment
Document Number: 2020-29181
Type: Rule
Date: 2021-01-07
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending its regulations to adjust the maximum amount of each civil monetary penalty (CMP) within its jurisdiction to account for inflation. This action, including the amount of the adjustments, is required under the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996 and the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.
Fees Paid by Federal Credit Unions
Document Number: 2020-28490
Type: Rule
Date: 2020-12-31
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending its regulation governing assessment of an annual operating fee to Federal credit unions (FCUs). First, for purposes of calculating the annual operating fee, the final rule amends the current rule to exclude from total assets any loan an FCU reports under the Small Business Administration's Paycheck Protection Program (PPP) or similar future programs approved for exclusion by the NCUA Board. Second, the final rule deletes from the current regulation references to the Credit Union System Investment Program and the Credit Union Homeowners Affordability Relief Program, both of which no longer exist. Third, the final rule amends the period used for the calculation of an FCU's total assets. Currently, total assets are calculated using the FCU's December 31st Call Report of the preceding year. Under the final rule, total assets will be calculated as the average total assets reported on the FCU's previous four Call Reports available at the time the NCUA Board approves the agency's budget for the upcoming year, adjusted for any excludable programs as determined by the Board. Finally, the final rule makes some minor technical changes.
Mortgage Servicing Rights
Document Number: 2020-28278
Type: Proposed Rule
Date: 2020-12-31
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend its investment regulation to permit federal credit unions (FCUs) to purchase mortgage servicing rights from other federally insured credit unions under certain conditions. Under the proposed rule, eligible FCUs may purchase the mortgage servicing rights of loans that the FCU is otherwise empowered to grant, provided these investments are consistent with safety and soundness and made in accordance with the FCU's policies and procedures that address the risk of these investments and servicing practices.
Temporary Regulatory Relief in Response to COVID-19-Extension
Document Number: 2020-28279
Type: Rule
Date: 2020-12-22
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is extending the effective date of its temporary final rule, which modified certain regulatory requirements to help ensure that federally insured credit unions (FICUs) remain operational and can properly conduct appropriate liquidity management to address economic conditions caused by the COVID-19 pandemic. Specifically, the temporary final rule issued by the Board in April 2020 temporarily raised the maximum aggregate amount of loan participations that a FICU may purchase from a single originating lender to the greater of $5,000,000 or 200 percent of the FICU's net worth. The rule also temporarily suspended limitations on the eligible obligations that a Federal credit union (FCU) may purchase and hold. In addition, given physical distancing practices necessitated by COVID-19, the rule also tolled the required timeframes for the occupancy or disposition of properties not being used for FCU business or that have been abandoned. Unless extended, each of these temporary modifications will expire on December 31, 2020. Due to the continued impact of COVID- 19, the Board has decided it is necessary to extend the effective period of these temporary modifications until December 31, 2021.
Agency Information Collection Activities: Proposed Collection; Comment Request; Fair Credit Reporting Disclosure and Recordkeeping Requirements
Document Number: 2020-28184
Type: Notice
Date: 2020-12-22
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Submission for OMB Review; Comment Request
Document Number: 2020-28182
Type: Notice
Date: 2020-12-22
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will be submitting the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995 on or after the date of publication of this notice.
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-27616
Type: Notice
Date: 2020-12-15
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-27614
Type: Notice
Date: 2020-12-15
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Proposed Collection; Comment Request; Advertising of Excess Insurance
Document Number: 2020-26769
Type: Notice
Date: 2020-12-07
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Capitalization of Interest in Connection With Loan Workouts and Modifications
Document Number: 2020-25988
Type: Proposed Rule
Date: 2020-12-04
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) seeks public comment on a proposed rule to amend its regulations by removing the prohibition on the capitalization of interest in connection with loan workouts and modifications. The Board has determined that the current prohibition on authorizing additional advances to finance unpaid interest may be overly burdensome and, in some cases, hamper a federally insured credit union's (FICU's) good-faith efforts to engage in loan workouts with borrowers facing difficulty because of the economic disruption that the COVID-19 pandemic has caused. Advancing interest may avert the need for alternative actions that would be more harmful to borrowers. The proposed rule would establish documentation requirements to help ensure that the addition of unpaid interest to the principal balance of a mortgage loan does not hinder the borrower's ability to become current on the loan. The proposed change would apply to workouts of all types of member loans, including commercial and business loans. The Board has also taken this opportunity to make several technical changes to the Appendix to improve its clarity and update certain references. For the convenience of readers, the Board is republishing the Appendix in its entirety so that the changes may be viewed in the context of the full document.
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-26554
Type: Notice
Date: 2020-12-01
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Proposed Collection; Comment Request; Truth in Lending Disclosure and Recordkeeping Requirements
Document Number: 2020-25847
Type: Notice
Date: 2020-11-23
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
The NCUA Staff Draft 2021-2022 Budget Justification
Document Number: 2020-25546
Type: Notice
Date: 2020-11-19
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA's draft, ``detailed business-type budget'' is being made available for public review as required by federal statute. The proposed resources will finance the agency's annual operations and capital projects, both of which are necessary for the agency to accomplish its mission. The briefing schedule and comment instructions are included in the supplementary information section.
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-25363
Type: Notice
Date: 2020-11-17
Agency: National Credit Union Administration, Agencies and Commissions
Corporate Credit Unions
Document Number: 2020-23185
Type: Rule
Date: 2020-11-12
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing a final rule that amends the NCUA's corporate credit union regulation. The final rule updates, clarifies, and simplifies several provisions of the NCUA's corporate credit union regulation, including: Permitting a corporate credit union to make a minimal investment in a credit union service organization (CUSO) without the CUSO being classified as a corporate CUSO under the NCUA's rules; expanding the categories of senior staff positions at member credit unions eligible to serve on a corporate credit union's board; and amending the minimum experience and independence requirement for a corporate credit union's enterprise risk management expert.
Role of Supervisory Guidance
Document Number: 2020-24484
Type: Proposed Rule
Date: 2020-11-05
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Bureau of Consumer Financial Protection
The OCC, Board, FDIC, NCUA, and Bureau (collectively, the agencies) are inviting comment on a proposed rule that would codify the Interagency Statement Clarifying the Role of Supervisory Guidance issued by the agencies on September 11, 2018 (2018 Statement). By codifying the 2018 Statement, the proposed rule is intended to confirm that the agencies will continue to follow and respect the limits of administrative law in carrying out their supervisory responsibilities. The 2018 Statement reiterated well-established law by stating that, unlike a law or regulation, supervisory guidance does not have the force and effect of law. As such, supervisory guidance does not create binding legal obligations for the public. The proposal would also clarify that the 2018 Statement, as amended, is binding on the agencies.
Derivatives
Document Number: 2020-23968
Type: Proposed Rule
Date: 2020-10-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is proposing to amend the NCUA's Derivatives rule. This proposed rule is intended to modernize the NCUA's Derivatives rule and make it more principles-based. This proposal retains key safety and soundness components, while providing more flexibility for federal credit unions (FCUs) to manage their interest rate risk (IRR) through the use of Derivatives. The changes included in this proposal would streamline the regulation and expand credit unions' authority to purchase and use Derivatives for the purpose of managing IRR. This proposal also reorganizes rule content related to loan pipeline management into one section, which will aid in readability and clarity.
Sunshine Act Meeting
Document Number: 2020-23704
Type: Notice
Date: 2020-10-26
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act Meetings
Document Number: 2020-23176
Type: Notice
Date: 2020-10-19
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Proposed Collection; Comment Request
Document Number: 2020-22770
Type: Notice
Date: 2020-10-15
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extensions of a currently approved collections, as required by the Paperwork Reduction Act of 1995.
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-22748
Type: Notice
Date: 2020-10-14
Agency: National Credit Union Administration, Agencies and Commissions
Real Estate Appraisals
Document Number: 2020-20928
Type: Rule
Date: 2020-10-14
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is adopting as final an interim final rule to temporarily amend its regulations requiring all federally insured credit unions to provide appraisals of real estate for certain real estate related transactions. The final rule defers the requirement to obtain an appraisal or written estimate of market value for up to 120 days following the closing of certain residential and commercial real estate transactions, excluding transactions for acquisition, development, and construction of real estate. Credit unions should make best efforts to obtain a credible estimate of the value of real property collateral before closing the loan, and otherwise underwrite loans consistent with safety and soundness principles. The final rule allows credit unions to expeditiously extend liquidity to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the coronavirus disease 2019 (COVID event). The final rule adopts the interim final rule without change. The final rule is similar to a recent final rule issued by the Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (FRB); and Federal Deposit Insurance Corporation (FDIC) (collectively, the other banking agencies) that also defers the requirement to obtain an appraisal or evaluation for up to 120 days following the closing of a transaction for certain residential and commercial real estate transactions.
Technical Amendments
Document Number: 2020-17372
Type: Rule
Date: 2020-10-02
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing a final rule to make technical amendments to various provisions of the NCUA's regulations. These amendments correct minor technical problems and improve clarity.
Submission for OMB Review; Comment Request
Document Number: 2020-21567
Type: Notice
Date: 2020-09-30
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will be submitting the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice.
Chartering and Field of Membership
Document Number: C1-2020-16988
Type: Rule
Date: 2020-09-16
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-20355
Type: Notice
Date: 2020-09-15
Agency: National Credit Union Administration, Agencies and Commissions
Chartering and Field of Membership
Document Number: 2020-16988
Type: Rule
Date: 2020-09-14
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending its chartering and field of membership (FOM) rules with respect to applicants and existing federal credit unions (FCUs) seeking a community charter approval, expansion, or conversion, in response to an August 2019 opinion and order issued by the D.C. Circuit Court of Appeals. First, the Board is re-adopting a provision to allow an applicant to designate a Combined Statistical Area (CSA), or an individual, contiguous portion thereof, as a well- defined local community (WDLC), provided that the chosen area has a population of 2.5 million or less. Second, with respect to communities based on a Core-Based Statistical Area (CBSA), or a portion thereof, the Board is providing additional explanation to support its decision to eliminate the requirement to serve the CBSA's core area as provided for in its comprehensive 2016 FOM rulemaking known as FOM1. Third, the Board is clarifying existing requirements and adding an explicit provision to its rules regarding potential discrimination in the FOM selection for CSAs and CBSAs.
Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance; Extension of Comment Period
Document Number: 2020-19575
Type: Proposed Rule
Date: 2020-09-03
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
On July 6, 2020, the OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) published in the Federal Register a notice soliciting comments on a proposal to reorganize, revise, and expand the Interagency Questions and Answers Regarding Flood Insurance (July 2020 Proposed Questions and Answers). The July 2020 Proposed Questions and Answers provided for a comment period ending on September 4, 2020. The Agencies have determined that an extension of the comment period until November 3, 2020, is appropriate. This action will allow interested parties additional time to analyze the proposal and prepare and submit comments.
Request for Comment Regarding National Credit Union Administration Overhead Transfer Rate Methodology and Operating Fee Schedule Methodology
Document Number: 2020-17009
Type: Notice
Date: 2020-08-31
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is inviting comment on the methodology used to determine the Overhead Transfer Rate (OTR). The Board applies the OTR to the NCUA's operating budget to determine the portion of the budget that will be funded from the National Credit Union Share Insurance Fund (Share Insurance Fund). The Board welcomes all comments but specifically invites comments on the four principles used in the methodology to calculate the OTR as discussed below. The Board is also requesting comment on proposed changes to the methodology it uses to determine how it apportions operating fees charged to federal credit unions (FCUs). The Board uses operating fees to fund part of the NCUA's annual budget. In this notice, the Board proposes: Clarifying the treatment of capital project budgets when calculating the operating fees; clarifying the treatment of miscellaneous revenues when calculating the operating fees; and modifying the approach for calculating the annual inflationary adjustments to the thresholds for the operating fee rate tiers. The Board solicits comment on these proposed changes and also solicits comment on several questions to gather information on potential future enhancements to the methodology.
Fees Paid by Federal Credit Unions
Document Number: 2020-16981
Type: Proposed Rule
Date: 2020-08-31
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend its regulation governing assessment of an annual operating fee to federal credit unions (FCUs). First, for purposes of calculating the annual operating fee, the proposed rule would amend the current rule to exclude from total assets any loan an FCU reports under the Small Business Administration's Paycheck Protection Program (PPP) or similar future programs approved for exclusion by the NCUA Board. Second, the proposed rule would delete from the current regulation references to the Credit Union System Investment Program and the Credit Union Homeowners Affordability Relief Program, both of which no longer exist. Third, the proposed rule would amend the period used for the calculation of an FCU's total assets. Currently, total assets are calculated using the FCU's December 31st Call Report of the preceding year. Under the proposed rule, total assets would be calculated as the average total assets reported on the FCU's previous four Call Reports available at the time the NCUA Board approves the agency's budget for the upcoming year, adjusted for any excludable programs as determined by the Board. Finally, the proposed rule also would make some minor technical changes. The Board has separately published a document and requested public comment about the methodologies it uses for computing the Overhead Transfer Rate and setting the annual operating fee schedule for fees charged to FCUs. Members of the public are encouraged to comment about these methodologies by responding to the appropriate Federal Register document. The notice relating to National Credit Union Administration Overhead Transfer Rate Methodology and Operating Fee Schedule Methodology is published elsewhere in this issue of the Federal Register.
Transition to the Current Expected Credit Loss Methodology
Document Number: 2020-16987
Type: Proposed Rule
Date: 2020-08-19
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is seeking comment on a proposed rule to address changes to the U.S. generally accepted accounting principles (GAAP). Specifically, the proposed rule would provide that, for purposes of determining a federally insured credit union's (FICU's) net worth classification under the prompt corrective action (PCA) regulations, the Board will phase-in the day-one adverse effects on regulatory capital that may result from the adoption of the current expected credit losses (CECL) accounting methodology. Consistent with regulations issued by the other federal banking agencies, the proposed rule would temporarily mitigate the adverse PCA consequences of the day-one capital adjustments, while requiring that FICUs account for CECL for other purposes, such as Call Reports. The proposed rule would also provide that FICUs with less than $10 million in assets are no longer required to determine their charges for loan losses in accordance with GAAP. The Board's regulations would provide that these FICUs may instead use any reasonable reserve methodology (incurred loss), provided that it adequately covers known and probable loan losses.
Submission for OMB Review; Comment Request
Document Number: 2020-17857
Type: Notice
Date: 2020-08-17
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Submission for OMB Review; Comment Request
Document Number: 2020-17819
Type: Notice
Date: 2020-08-17
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will be submitting the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995 on or after the date of publication of this notice.
Sunshine Act Meeting
Document Number: 2020-16366
Type: Notice
Date: 2020-07-28
Agency: National Credit Union Administration, Agencies and Commissions
Due to the COVID-19 Pandemic, the meeting will be open to the public via live webcast only. Visit the agency's homepage (www.ncua.gov.) and access the provided webcast link.
Agency Information Collection Activities: Proposed Collection; Comment Request; Contractor Budget and, Contractor Representation and Certification
Document Number: 2020-16027
Type: Notice
Date: 2020-07-24
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Submission for OMB Review; Comment Request
Document Number: 2020-15739
Type: Notice
Date: 2020-07-21
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will be submitting the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995 on or after the date of publication of this notice.
Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance
Document Number: 2020-14015
Type: Proposed Rule
Date: 2020-07-06
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) propose to reorganize, revise, and expand the Interagency Questions and Answers Regarding Flood Insurance and solicit comment on all aspects of the amendments. To help lenders meet their responsibilities under Federal flood insurance law and to increase public understanding of their flood insurance regulations, the Agencies have prepared proposed new and revised guidance addressing the most frequently asked questions and answers about flood insurance. Significant topics addressed by the proposed revisions include the effect of major amendments to flood insurance laws with regard to the escrow of flood insurance premiums, the detached structure exemption, and force-placement procedures.