National Credit Union Administration May 2015 – Federal Register Recent Federal Regulation Documents

Agency Information Collection Activities: Submission to the Office of Management and Budget for Review; Reinstatement of a Previously Approved Collection; Comment Request; Loans in Areas Having Special Flood Hazards
Document Number: 2015-12821
Type: Notice
Date: 2015-05-28
Agency: National Credit Union Administration, Agencies and Commissions
National Credit Union Administration is announcing that a proposed collection of information has been submitted 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). The purpose of this notice is to allow for 30 days of public comment. This information collection is published to obtain comments from the public. The information collection relates to the requirements under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973 (Flood Acts),\1\ as amended by the National Flood Insurance Reform Act of 1994.\2\ NCUA has implemented these flood insurance requirements in its regulations. Under the Flood Acts and the regulations, federally insured credit unions must follow recordkeeping and disclosure provisions regarding certain loans that require flood insurance.
Agency Information Collection Activities: Submission for Office of Management and Budget Review; Comment Request; for Reinstatement, With Change, of a Previously Approved Collection; Notice of Change of Officials and Senior Executive Officers Forms
Document Number: 2015-12814
Type: Notice
Date: 2015-05-28
Agency: National Credit Union Administration, Agencies and Commissions
NCUA intends to submit a collection of information related to the Notice of Change of Officials and Senior Executive Officers Forms to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (PRA).
Sunshine Act: Notice of Agency Meeting
Document Number: 2015-12071
Type: Notice
Date: 2015-05-18
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Submission to the Office of Management and Budget (OMB) for Revision to a Currently Approved Information Collection; Comment Request; Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery
Document Number: 2015-12003
Type: Notice
Date: 2015-05-18
Agency: National Credit Union Administration, Agencies and Commissions
As part of a Federal Government-wide effort to streamline the process to seek feedback from the public on service delivery, NCUA intends to amend and submit the Generic Information Collection Request (Generic ICR): ``Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery'' to the OMB for approval under the Paperwork Reduction Act (PRA) (44 U.S.C. 3501 et. seq.). The purpose of this notice is to allow for 30 days of public comment.
Corporate Credit Unions
Document Number: 2015-10554
Type: Proposed Rule
Date: 2015-05-12
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to exclude Central Liquidity Facility (CLF)-related bridge loans (CLF-related bridge loans) from the aggregate unsecured lending cap to one borrower applicable to a corporate credit union (Corporate). Specifically, a CLF-related bridge loan that is exempt from that cap is a bridge loan made by a Corporate to a natural person credit union when the natural person credit union has been approved for a loan by the CLF and is awaiting funding from the CLF. Additionally, the proposal excludes CLF-related bridge loans from the calculation of ``net assets'' and ``net risk weighted assets'' for determining minimum capital requirements. This proposal results largely from comments the Board received on the November 2014 proposed rule amending NCUA's Corporate regulations.
Share Insurance and Appendix
Document Number: 2015-10553
Type: Proposed Rule
Date: 2015-05-12
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend its share insurance regulations to implement statutory amendments to the Federal Credit Union Act (FCU Act) resulting from the recent enactment of the Credit Union Share Insurance Fund Parity Act (Insurance Parity Act). The statutory amendments require NCUA to provide enhanced, pass-through share insurance for interest on lawyers trust accounts (IOLTA) and other similar escrow accounts. As its name implies, the Insurance Parity Act ensures that NCUA and the Federal Deposit Insurance Corporation (FDIC) insure IOLTAs and other similar escrow accounts in an equivalent manner.
Chartering and Field of Membership Manual
Document Number: 2015-10548
Type: Rule
Date: 2015-05-06
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing a final regulation to amend the associational common bond provisions of NCUA's chartering and field of membership requirements. Specifically, the amendments establish a threshold requirement which provides that, in order for an association to qualify to be part of a federal credit union's (FCU) field of membership (FOM), the association must not have been formed primarily for the purpose of expanding credit union membership. The amendments also expand the criteria in NCUA's current totality of the circumstances test, which is a regulatory tool used to determine if an association, after satisfying the above-referenced threshold requirement, also satisfies the associational common bond requirements necessary to qualify for inclusion in an FCU's FOM. The amendments will better ensure that FCUs comply with established membership requirements. Additionally, NCUA is granting automatic membership qualification under the associational common bond requirements to certain categories of associations that NCUA has routinely approved for FCU membership in the past. For ease of reading, NCUA uses the terms ``association'' and ``group'' interchangeably in this rulemaking.
Corporate Credit Unions
Document Number: 2015-10546
Type: Rule
Date: 2015-05-06
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending its regulations governing corporate credit unions (Corporates) and the scope of their activities. The amendments clarify the mechanics of a number of regulatory provisions and make several non-substantive, technical corrections.