National Credit Union Administration June 24, 2011 – Federal Register Recent Federal Regulation Documents
Results 1 - 3 of 3
Financial Derivatives Transactions To Offset Interest Rate Risk; Investment and Deposit Activities
Through this Advance Notice of Proposed Rulemaking (``ANPR''), the National Credit Union Administration (``NCUA'') requests public comments on whether and how to modify its rule on investment and deposit activities to permit a natural person credit union to engage in the purchase and sale of financial derivatives for the purpose of offsetting interest rate risk. Although permitted by law, NCUA currently allows only a limited number of credit unions, on a case-by- case basis, to engage in such transactions under an investment pilot program.
Sample Income Data To Meet the Low-Income Definition
The NCUA is amending its regulation to permit federal credit unions (FCUs) that do not qualify for a low-income designation using the geo-coding software the agency has developed for that purpose to submit an analysis of a statistically valid sample of member income data as evidence they qualify for the designation. The final rule, by permitting FCUs to use a statistically valid sample of member incomes drawn from loan files or a survey, eases the burden on FCUs seeking to qualify for a low-income designation. The final rule is very similar to the proposed, with additional wording about not combining a survey and loan file review.
Golden Parachute and Indemnification Payments-Technical Correction
NCUA is issuing a technical correction to its rule restricting a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party (IAP), published in the Federal Register of May 26, 2011. The amendment corrects an exception to the definition of golden parachute payment pertaining to plans offered under Sec. 457 of the Internal Revenue Code.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
