National Credit Union Administration October 20, 2010 – Federal Register Recent Federal Regulation Documents

Sunshine Act Meeting
Document Number: 2010-26549
Type: Notice
Date: 2010-10-20
Agency: National Credit Union Administration, Agencies and Commissions
Corporate Credit Unions
Document Number: 2010-24616
Type: Rule
Date: 2010-10-20
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing final amendments to its rule governing corporate credit unions. The major revisions involve corporate credit union capital, investments, asset-liability management, governance, and credit union service organization (CUSO) activities. The amendments establish a new capital scheme, including risk-based capital requirements; impose new prompt corrective action requirements; place various new limits on corporate investments; impose new asset-liability management controls; amend some corporate governance provisions; and limit a corporate CUSO to categories of services preapproved by NCUA. In addition, this rulemaking contains conforming amendments to rules governing Prompt Corrective Action (for natural person credit unions); Investments and Deposit Activities (for federal credit unions); Administrative Actions, Adjudicative Hearings, Rules of Practice and Procedure, and Investigations; and Involuntary Liquidation of Federal Credit Unions and Adjudication of Creditor Claims Involving Federally Insured Credit Unions. These amendments will strengthen individual corporates and the corporate credit union system as a whole.