National Credit Union Administration 2012 – Federal Register Recent Federal Regulation Documents

Alternatives to the Use of Credit Ratings
Document Number: 2012-30076
Type: Rule
Date: 2012-12-13
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing a final rule to implement certain statutory requirements in Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) pertaining to the use of credit ratings to assess creditworthiness. The final rule removes references to credit ratings in NCUA regulations or replaces them with other appropriate standards of creditworthiness as required by the Dodd-Frank Act.
Fidelity Bond and Insurance Coverage
Document Number: 2012-30075
Type: Rule
Date: 2012-12-13
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is adopting as a final rule, without change, the interim final rule that the Board issued in May 2012 that amended NCUA's fidelity bond rule. The interim final rule removed references in the fidelity bond rule to NCUA's former Regulatory Flexibility Program (RegFlex), which granted a RegFlex credit union broader authority to choose the deductible amount of its fidelity bond policy.
Sunshine Act; Notice of Agency Meeting
Document Number: 2012-29267
Type: Notice
Date: 2012-12-03
Agency: National Credit Union Administration, Agencies and Commissions
Regulations Affecting Credit Unions; Technical Amendments
Document Number: 2012-28666
Type: Rule
Date: 2012-11-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is making a number of technical amendments to NCUA's regulations to conform them to the changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and based on NCUA's rolling, three-year regulatory review.
Sunshine Act; Notice of Agency Meeting
Document Number: 2012-27648
Type: Notice
Date: 2012-11-13
Agency: National Credit Union Administration, Agencies and Commissions
Notice of Extension of Public Comment Period: Prompt Corrective Action, Requirements for Insurance, and Promulgation of NCUA Rules and Regulations
Document Number: 2012-26313
Type: Proposed Rule
Date: 2012-10-25
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) has extended the public comment period for its proposed rule titled Prompt Corrective Action, Requirements for Insurance, and Promulgation of NCUA Rules and Regulations, 77 FR 59139 (September 26, 2012), to November 26, 2012. The proposed rule addresses asset thresholds affecting regulatory relief for small credit unions.
Designation of Low-Income Status; Acceptance of Secondary Capital Accounts by Low-Income Designated Credit Unions
Document Number: 2012-26129
Type: Proposed Rule
Date: 2012-10-25
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board proposes to amend its low-income credit unions regulation by extending the time credit unions have to accept a low- income designation. Under the current rule, an FCU that has received notification from NCUA that it qualifies for a low-income designation has 30 days to notify NCUA that it wishes to receive the designation. Some FCUs may find it difficult to respond this quickly, so the proposed rule extends the response period to 90 days. The proposed rule also makes minor, nonsubstantive technical amendments to NCUA's insurance regulation to reflect current agency practice in this regard.
Agency Information Collection Activities: Submission to OMB for Revision to a Currently Approved Information Collection; Comment Request
Document Number: 2012-26193
Type: Notice
Date: 2012-10-24
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35). This information collection is published to obtain comments from the public. NCUA is proposing a data collection change to the credit union Profile as well as the 5300 Call Report. NCUA is proposing to add a new account to the Contacts section of the Profile to identify the initial date of election or appointment of each official to help assess the longevity of credit union board members. Additionally, NCUA is planning to add a question to the Regulatory section of the Profile where credit unions will be required to certify their compliance with 12 CFR 701.4. On the 5300 Call Report, NCUA will revise the regulatory reporting requirements by eliminating the data collection on modified loans and target data collection efforts on loans meeting the definition of a troubled debt restructured loan under Generally Accepted Accounting Principles.
Agency Information Collection Activities: Proposed Information Collection; Comment Request
Document Number: 2012-25935
Type: Notice
Date: 2012-10-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC FDIC, and NCUA (collectively, the ``Agencies''), as part of continuing efforts to reduce paperwork and respondent burden, invite the general public and other Federal agencies to take this opportunity to comment on a new information collection. Under the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid control number issued by the Office of Management and Budget. The Agencies are soliciting comment concerning a proposed collection method entitled ``Interagency Appraisal Complaint Form.''
Sunshine Act; Notice of Agency Meeting
Document Number: 2012-25417
Type: Notice
Date: 2012-10-15
Agency: National Credit Union Administration, Agencies and Commissions
Payday-Alternative Loans
Document Number: 2012-23718
Type: Proposed Rule
Date: 2012-09-27
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is currently reviewing its regulation governing payday-alternative loans (PAL or PAL loans), formerly known as short-term, small amount loans. The Board intends to improve the regulation to encourage more federal credit unions (FCUs) to offer PAL loans and believes it may be necessary to amend the regulation. The Board seeks comment on how best to approach this. Although the Board identifies specific issues for discussion below, it encourages commenters to discuss any issue related to improving the regulation.
Prompt Corrective Action, Requirements for Insurance, and Promulgation of NCUA Rules and Regulations
Document Number: 2012-23662
Type: Proposed Rule
Date: 2012-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend Interpretive Ruling and Policy Statement (IRPS) 87-2, as amended by IRPS 03-2, and two NCUA regulations that apply asset thresholds to grant relief from risk-based net worth and interest rate risk requirements. The amended IRPS would result in more robust consideration of regulatory relief for more small credit unions in future rulemakings. The amended regulations would grant immediate and prospective relief from regulatory burden to a larger group of small credit unions.
Investment and Deposit Activities
Document Number: 2012-23644
Type: Proposed Rule
Date: 2012-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend its investment regulation to allow federal credit unions (FCUs) to purchase Treasury Inflation Protected Securities (TIPS). This proposed amendment adds TIPS to the list of permissible investments for FCUs in part 703. The Board believes TIPS will provide FCUs with an additional investment portfolio risk management tool that can be useful in an inflationary economic environment.
Chartering and Field of Membership Manual for Federal Credit Unions
Document Number: 2012-23643
Type: Proposed Rule
Date: 2012-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend the definition of ``rural district'' in NCUA's Chartering and Field of Membership Manual. The proposed amendment to the definition of ``rural district'' permits a geographic area to qualify as a rural district if, among other criteria, it has a total population that does not exceed the greater of 200,000 people or three percent of the population of the state in which the majority of the district is located. The current definition limits the rural district's population to 200,000, regardless of the population of the state containing the majority of the rural district.
Sunshine Act Meeting Notice
Document Number: 2012-23473
Type: Notice
Date: 2012-09-21
Agency: National Credit Union Administration, Agencies and Commissions
Interest Rate Risk Policy and Program
Document Number: C1-2012-2091
Type: Rule
Date: 2012-09-19
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2012-23009
Type: Notice
Date: 2012-09-18
Agency: National Credit Union Administration, Agencies and Commissions
Appraisals for Higher-Risk Mortgage Loans
Document Number: 2012-20432
Type: Proposed Rule
Date: 2012-09-05
Agency: National Credit Union Administration, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency, Bureau of Consumer Financial Protection, Board of Governors of the Federal Reserve System
The Board, Bureau, FDIC, FHFA, NCUA, and OCC (collectively, the Agencies) are proposing to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the official interpretation to the regulation. The proposed revisions to Regulation Z would implement a new TILA provision requiring appraisals for ``higher-risk mortgages'' that was added to TILA as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. For mortgages with an annual percentage rate that exceeds the average prime offer rate by a specified percentage, the proposed rule would require creditors to obtain an appraisal or appraisals meeting certain specified standards, provide applicants with a notification regarding the use of the appraisals, and give applicants a copy of the written appraisals used.
Definition of Troubled Condition
Document Number: 2012-18560
Type: Proposed Rule
Date: 2012-07-31
Agency: National Credit Union Administration, Agencies and Commissions
NCUA proposes to amend the definition of ``troubled condition'' as that term appears in Sec. 701.14 and elsewhere in NCUA's regulations. Generally, under the current definition, only a state supervisory authority (SSA) may declare a federally insured, state-chartered credit union (FISCU) to be in ``troubled condition.'' The proposal expands the definition to permit either NCUA or an SSA to declare a FISCU to be in ``troubled condition.''
Maintaining Access to Emergency Liquidity
Document Number: 2012-18565
Type: Proposed Rule
Date: 2012-07-30
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is requesting public comment on a proposed regulation requiring federally insured credit unions (FICUs) with assets of $10 million or more to have a contingency funding plan that clearly sets out strategies for addressing liquidity shortfalls in emergency situations. The NPRM also requires FICUs with assets of $100 million or more to have access to a backup federal liquidity source for emergency situations. Finally, the NPRM requires FICUs with less than $10 million in assets to maintain a basic written policy that provides a board-approved framework for managing liquidity and a list of contingent liquidity sources that can be employed under adverse circumstances. The NPRM follows an earlier Advance Notice of Proposed Rulemaking (ANPR) requesting public comment on the scope and requirements of a regulation regarding backup liquidity requirements.
Sunshine Act Meetings
Document Number: 2012-17778
Type: Notice
Date: 2012-07-19
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act Meetings
Document Number: 2012-17640
Type: Notice
Date: 2012-07-18
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act Meeting Notice; Matters To Be Deleted From the Agenda of a Previously Announced Agency Meeting
Document Number: 2012-15466
Type: Notice
Date: 2012-06-22
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2012-14945
Type: Notice
Date: 2012-06-18
Agency: National Credit Union Administration, Agencies and Commissions
Loan Workouts and Nonaccrual Policy, and Regulatory Reporting of Troubled Debt Restructured Loans
Document Number: 2012-13214
Type: Rule
Date: 2012-05-31
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is amending its regulations to require federally insured credit unions (FICUs) to maintain written policies that address the management of loan workout arrangements and nonaccrual policies for loans, consistent with industry practice or Federal Financial Institutions Examination Council (FFIEC) requirements. The final rule includes guidelines, set forth as an interpretive ruling and policy statement (IRPS) and incorporated as an appendix to the rule, that will assist FICUs in complying with the rule, including the regulatory reporting of troubled debt restructured loans (TDR loans or TDRs) in FICU Call Reports.
Eligible Obligations, Charitable Contributions, Nonmember Deposits, Fixed Assets, Investments, Fidelity Bonds, Incidental Powers, Member Business Loans, and Regulatory Flexibility Program
Document Number: 2012-13212
Type: Rule
Date: 2012-05-31
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is removing certain regulations and eliminating the Regulatory Flexibility Program (RegFlex) to provide regulatory relief to federal credit unions. NCUA is also removing or amending related rules to ease compliance burden while retaining certain safety and soundness standards. Those rules pertain to eligible obligations, charitable contributions, nonmember deposits, fixed assets, investments, incidental powers, and member business loans. In addition, NCUA is issuing an interim final rule with a request for comment to amend a provision in the fidelity bond rule to remove references to RegFlex.
Guidelines for the Supervisory Review Committee
Document Number: 2012-13210
Type: Rule
Date: 2012-05-31
Agency: National Credit Union Administration, Agencies and Commissions
This direct final policy statement amends IRPS 11-1, which addresses appeals to NCUA's Supervisory Review Committee. NCUA adopts IRPS 12-1 to remove Regulatory Flexibility designation determinations from the list of material supervisory determinations credit unions may appeal to the Committee because NCUA is eliminating the RegFlex program contemporaneously with the issuance of this IRPS.
Agency Information Collection Activities: Submission to OMB for Revision to a Currently Approved Information Collection; Comment Request
Document Number: 2012-12782
Type: Notice
Date: 2012-05-25
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35). This information collection is published to obtain comments from the public. NCUA is proposing a data collection change to the credit union Profile as well as the 5300 Call Report. NCUA is proposing to add a new account to the Contacts section of the Profile to identify the initial date of election or appointment of each official to help assess the longevity of credit union board members. Additionally, NCUA is planning to add a question to the Regulatory section of the Profile where credit unions will be required to certify their compliance with 12 CFR 701.4. On the 5300 Call Report, NCUA will revise the regulatory reporting requirements by eliminating the data collection on modified loans and target data collection efforts on loans meeting the definition of a troubled debt restructured loan under Generally Accepted Accounting Principles.
Sunshine Act; Notice of Agency Meeting
Document Number: 2012-12404
Type: Notice
Date: 2012-05-22
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act Meeting
Document Number: 2012-8639
Type: Notice
Date: 2012-04-10
Agency: National Credit Union Administration, Agencies and Commissions
Technical Amendments
Document Number: 2012-6835
Type: Rule
Date: 2012-03-21
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending the sections of NCUA's regulations addressing nondiscrimination requirements, flood insurance and the description of NCUA to make minor, nonsubstantive technical corrections. The technical amendments update the regulations to reflect current agency practice and will not cause any substantive changes.
Sunshine Act Meeting
Document Number: 2012-6005
Type: Notice
Date: 2012-03-12
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2012-3391
Type: Notice
Date: 2012-02-13
Agency: National Credit Union Administration, Agencies and Commissions
Financial Derivatives Transactions To Offset Interest Rate Risk; Investment and Deposit Activities
Document Number: 2012-2092
Type: Proposed Rule
Date: 2012-02-03
Agency: National Credit Union Administration, Agencies and Commissions
Interest Rate Risk Policy and Program
Document Number: 2012-2091
Type: Rule
Date: 2012-02-02
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Meeting
Document Number: 2012-1382
Type: Notice
Date: 2012-01-23
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-33822
Type: Notice
Date: 2012-01-04
Agency: National Credit Union Administration, Agencies and Commissions