National Credit Union Administration January 18, 2013 – Federal Register Recent Federal Regulation Documents
Results 1 - 4 of 4
Prompt Corrective Action, Requirements for Insurance, and Promulgation of NCUA Rules and Regulations
The NCUA Board (Board) is issuing a final rule 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 increases the asset threshold that identifies credit unions to which NCUA will give more robust consideration of regulatory relief in future rulemakings. The amended regulations similarly include increased asset thresholds, granting immediate and prospective relief from existing regulatory burden to a larger group of small credit unions.
Definition of Troubled Condition
The NCUA Board (Board) is issuing a final rule amending the definition of ``troubled condition'' as that term is used to trigger the statutory requirement to give the Board notice and an opportunity to disapprove a change of credit union officials, and as that term appears elsewhere in NCUA's regulations. Generally, the current definition allows only a state supervisory authority (SSA) to declare a federally insured, state-chartered credit union (FISCU) to be in ``troubled condition.'' The final rule amends the definition to allow either NCUA or an SSA to declare a FISCU in ``troubled condition.'' NCUA is adopting the amended definition of ``troubled condition'' as proposed.
Treasury Tax and Loan Depositaries; Depositaries and Financial Agents of the Government
The NCUA Board (Board) is making technical amendments to NCUA's regulation regarding share insurance on various kinds of treasury accounts. The technical amendments conform the regulation to changes made to NCUA's standard maximum share insurance amount (SMSIA) by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Specifically, the Dodd-Frank Act increased the SMSIA from $100,000 to $250,000.
Designation of Low-Income Status; Acceptance of Secondary Capital Accounts by Low-Income Designated Credit Unions
The NCUA Board (Board) is amending its low-income credit unions regulation by extending the time period in which a federal credit union (FCU) may accept a low-income designation. Under the current rule, an FCU that receives notice from NCUA of its eligibility for a low-income designation has 30 days to notify NCUA in writing that it wishes to accept the designation. The final rule extends an FCU's response time from 30 days to 90 days to make certain an FCU has adequate time to respond. The final rule also makes minor, nonsubstantive technical amendments to NCUA's requirements for insurance regulation to reflect current agency practice.
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