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

Agency Information Collection Activities: Submission to OMB for Revision of a Currently Approved Information Collection, Credit Union Service Organizations; Comment Request
Document Number: 2015-24478
Type: Notice
Date: 2015-09-28
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 previously amended its credit union service organization (CUSO) regulation to increase transparency and address certain safety and soundness concerns. The final rule extends certain requirements of the CUSO regulation to federally insured, state-chartered credit unions and imposes new requirements on federally insured credit unions (FICUs). Under the amended rule, FICUs with an investment in, or loan to, a CUSO must obtain a written agreement with the CUSO addressing accounting, financial statements, audits, reporting, and legal opinions. The rule limits the ability of a ``less than adequately capitalized'' FICU to recapitalize an insolvent CUSO. All CUSOs are required to annually provide basic profile information to NCUA and the appropriate state supervisory authority (SSA). CUSOs engaging in certain complex or high-risk activities are also required to report more detailed information, including audited financial statements and customer information.
Sunshine Act; Notice of Agency Meeting
Document Number: 2015-24600
Type: Notice
Date: 2015-09-25
Agency: National Credit Union Administration, Agencies and Commissions
Promulgation of NCUA Rules and Regulations
Document Number: 2015-24165
Type: Rule
Date: 2015-09-24
Agency: National Credit Union Administration, Agencies and Commissions
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 13-1. The amended IRPS increases the asset threshold used to define the term ``small entity'' under the Regulatory Flexibility Act (RFA) from $50 million to $100 million and, thereby, provides transparent consideration of regulatory relief for a greater number of credit unions in future rulemakings. The final rule and IRPS also makes a technical change to NCUA's regulations in connection with procedures for developing regulations.
Corporate Credit Unions
Document Number: 2015-24160
Type: Rule
Date: 2015-09-23
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing this final rule to exclude Central Liquidity Facility-related bridge loans (CLF-related bridge loans) from the aggregate unsecured lending cap to one borrower applicable to corporate credit unions (Corporates). 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 where the natural person credit union has been approved for a loan by the CLF and is awaiting funding from the CLF. Additionally, this rule excludes CLF- related bridge loans from the calculation of ``net assets'' and ``net risk weighted assets'' for determining minimum capital requirements.
Civil Monetary Penalty Inflation Adjustment
Document Number: 2015-24157
Type: Rule
Date: 2015-09-23
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending its regulations to adjust the maximum amount of each civil monetary penalty (CMP) within its jurisdiction to account for inflation. This action, including the amount of the adjustments, is required under the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996.