National Credit Union Administration May 2005 – Federal Register Recent Federal Regulation Documents

Sales of Nondeposit Investments
Document Number: 05-10381
Type: Notice
Date: 2005-05-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA is proposing to adopt an Interpretive Ruling and Policy Statement (IRPS) on Sales of Nondeposit Investments. The proposed IRPS provides requirements, direction, and guidance to federally-insured credit unions on the establishment and operation of third party brokerage arrangements. The proposed IRPS updates and replaces NCUA's Letter to Credit Unions No. 150 on the sales of nondeposit investments.
Fidelity Bond and Insurance Coverage for Federal Credit Unions
Document Number: 05-10380
Type: Proposed Rule
Date: 2005-05-25
Agency: National Credit Union Administration, Agencies and Commissions
NCUA proposes to amend its fidelity bond rule to increase the maximum allowable deductible, presently $200,000, and change the minimum required coverage. NCUA also proposes to discontinue listing approved bonds in the rule but continue to list and update them on its website. NCUA believes these changes modernize the rule and provide flexibility while addressing safety and soundness concerns. NCUA solicits comment on whether to rescind its approval of Blanket Bond Standard Form 23, which has not changed since 1950 and is no longer widely used. NCUA solicits suggestions on factors credit unions should consider in determining whether to raise their bond coverage above the regulatory requirements. Finally, NCUA is proposing a technical correction in the regulation that requires fidelity bond coverage for federally insured, state chartered credit unions.
Sunshine Act Meeting
Document Number: 05-9851
Type: Notice
Date: 2005-05-17
Agency: National Credit Union Administration, Agencies and Commissions
Security Program and Appendix B-Guidance on Response Programs for Unauthorized Access to Member Information and Member Notice
Document Number: 05-7836
Type: Rule
Date: 2005-05-02
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is amending its rule governing security program elements to require federally insured credit unions to include response programs to address instances of unauthorized access to member information. NCUA is also including guidance, in the form of Appendix B, to provide federally insured credit unions with direction on ways to meet the new regulatory requirements.