National Credit Union Administration 2020 – Federal Register Recent Federal Regulation Documents

Real Estate Appraisals
Document Number: 2020-08433
Type: Rule
Date: 2020-04-30
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending the agency's regulation requiring appraisals for certain residential real-estate related transactions. The final rule increases the threshold level below which appraisals are not required for residential real-estate related transactions from $250,000 to $400,000. Instead of an appraisal, and consistent with the requirement for other transactions that fall below applicable appraisal thresholds, federally insured credit unions (FICUs) are required to obtain written estimates of market value of the real estate collateral consistent with safe and sound practices. For ease of reference, this final rule explicitly incorporates the existing statutory requirement that appraisals be subject to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice (USPAP). This final rule is consistent with the final rule, effective October 9, 2019, issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (federal banking agencies) that increases the threshold level at or below which appraisals are not required for residential real estate transactions from $250,000 to $400,000.
Central Liquidity Facility
Document Number: 2020-08101
Type: Rule
Date: 2020-04-29
Agency: National Credit Union Administration, Agencies and Commissions
In response to the COVID-19 pandemic, the NCUA Board (Board) is issuing this interim final rule to provide credit unions with greater access to liquidity to help ensure they remain operational throughout the crisis. This rule will make it easier and more attractive for credit unions to join the NCUA's Central Liquidity Facility (Facility). In addition, this rule makes several amendments to conform to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Submission for OMB Review; Comment Request
Document Number: 2020-08943
Type: Notice
Date: 2020-04-28
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extensions of currently approved collections, as required by the Paperwork Reduction Act of 1995.
Regulatory Capital Rule: Paycheck Protection Program Lending Facility and Paycheck Protection Program Loans
Document Number: 2020-08920
Type: Rule
Date: 2020-04-27
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing this interim final rule to make a conforming amendment to its capital adequacy regulation following the enactment of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act authorizes the Small Business Administration to create a loan guarantee program, the Paycheck Protection Program (PPP), to help certain businesses affected by the COVID-19 pandemic. The CARES Act requires that PPP loans receive a zero percent risk weighting under the NCUA's risk-based capital requirements. To reflect the statutory requirement, the interim final rule amends the NCUA's capital adequacy regulation to provide that covered PPP loans receive a zero percent risk weight. The interim final rule also provides that if the covered loan is pledged as collateral for a non-recourse loan that is provided as part of the Board of Governors of the Federal Reserve System's (FRB) PPP Lending Facility, the covered loan can be excluded from a credit union's calculation of total assets for the purposes of calculating its net worth ratio. The interim final rule also makes a conforming amendment to the definition of commercial loan in the NCUA's member business loans and commercial lending rule. The Board has found good cause to issue the interim final rule without advance notice-and-comment procedures and with an effective date upon publication.
Agency Information Collection Activities: Proposed Collection; Comment Request; Disclosure and Recordkeeping Requirements Under the Truth in Savings Act (TISA)
Document Number: 2020-08711
Type: Notice
Date: 2020-04-24
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Real Estate Appraisals
Document Number: 2020-08435
Type: Rule
Date: 2020-04-21
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is adopting this interim final rule to amend its regulations requiring appraisals of real estate for certain transactions. The interim final rule defers the requirement to obtain an appraisal or written estimate of market value for up to 120 days following the closing of a transaction for certain residential and commercial real estate transactions, excluding transactions for acquisition, development, and construction of real estate. Credit unions should make best efforts to obtain a credible valuation of real property collateral before the loan closing, and otherwise underwrite loans consistent with safety and soundness principles. The Board is providing this relief to allow credit unions to expeditiously extend liquidity to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the National Emergency declared in connection with coronavirus disease 2019 (COVID-19). The interim final rule is substantially identical to a recent interim final rule issued by the Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (FRB); and Federal Deposit Insurance Corporation (FDIC) (collectively, the other banking agencies) that also defers the requirement to obtain an appraisal or evaluation for up to 120 days following the closing of a transaction for certain residential and commercial real estate transactions.
Temporary Regulatory Relief in Response to COVID-19
Document Number: 2020-08434
Type: Rule
Date: 2020-04-21
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is temporarily modifying certain regulatory requirements to help ensure that federally insured credit unions (FICUs) remain operational and liquid during the COVID-19 crisis. Specifically, the Board is temporarily raising the maximum aggregate amount of loan participations that a FICU may purchase from a single originating lender to the greater of $5,000,000 or 200 percent of the FICU's net worth. The Board is also temporarily suspending limitations on the eligible obligations that a federal credit union (FCU) may purchase and hold. In addition, given physical distancing policies implemented in response to the crisis, the Board is tolling the required timeframes for the occupancy or disposition of properties not being used for FCU business or that have been abandoned. These temporary modifications will be in place until December 31, 2020, unless extended.
Agency Information Collection Activities: Proposed Collection; Comment Request; Leasing
Document Number: 2020-08188
Type: Notice
Date: 2020-04-17
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Combination Transactions With Non-Credit Unions; Reopening of Comment Period
Document Number: 2020-07157
Type: Proposed Rule
Date: 2020-04-14
Agency: National Credit Union Administration, Agencies and Commissions
On January 30, 2020, the NCUA Board (Board) published a Notice of Proposed Rulemaking (NPRM) in the Federal Register. The NPRM requested comment on the Board's proposal to add subpart D to part 708a of its regulations and clarify the scope of section 741.8 of the NCUA's regulations related to procedures and requirements for combination transactions. The NPRM provided a 60-day comment period that closed on March 30, 2020. To allow stakeholders more time to consider and submit their comments, the Board has determined to reopen the comment period for an additional 60 days.
Corporate Credit Unions; Extension of Comment Period
Document Number: C1-2020-07159
Type: Proposed Rule
Date: 2020-04-13
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-07871
Type: Notice
Date: 2020-04-13
Agency: National Credit Union Administration, Agencies and Commissions
Corporate Credit Unions; Extension of Comment Period
Document Number: 2020-07159
Type: Proposed Rule
Date: 2020-04-09
Agency: National Credit Union Administration, Agencies and Commissions
On March 27, 2020, the NCUA Board (Board) published a Notice of Proposed Rulemaking in the Federal Register requesting comment on the Board's proposal to amend the NCUA's corporate credit union regulation (proposed rule). The proposed rule would update, clarify, and simplify several provisions of the NCUA's corporate credit union regulation. The proposed rule provided a 60-day comment period that was set to close on May 26, 2020. To allow interested persons more time to consider and submit their comments, the Board has determined that an extension of the comment period for an additional 60 days is appropriate.
Agency Information Collection Activities: Proposed Collection; Comment Request
Document Number: 2020-07035
Type: Notice
Date: 2020-04-03
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extensions of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Community Development Revolving Loan Fund Access for Credit Unions
Document Number: 2020-06715
Type: Notice
Date: 2020-04-01
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) is issuing this Notice of Funding Opportunity (NOFO) to announce the availability of technical assistance grants (awards) for low-income designated credit unions (LICUs) through the CDRLF. The CDRLF serves as a source of financial support in the form of loans and technical assistance grants that better enable LICUs to support the communities in which they operate. All grant awards made under this NOFO are subject to funds availability and are at the NCUA's discretion.
Community Development Revolving Loan Fund Access for Credit Unions
Document Number: 2020-06714
Type: Notice
Date: 2020-04-01
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) is issuing this Notice of Funding Opportunity (NOFO) to announce the availability of loans (awards) for low-income designated credit unions (LICUs) through the CDRLF. The CDRLF serves as a source of financial support in the form of loans and technical assistance grants that better enable LICUs to support the communities in which they operate. All awards made under this NOFO are subject to funds availability and are at the NCUA's discretion.
Corporate Credit Unions
Document Number: 2020-03837
Type: Proposed Rule
Date: 2020-03-27
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is seeking comment on a proposed rule that would amend the NCUA's corporate credit union regulation. The proposed rule would update, clarify, and simplify several provisions of the NCUA's corporate credit union regulation, including: Permitting a corporate credit union to make a minimal investment in a credit union service organization (CUSO) without the CUSO being classified as a corporate CUSO under the NCUA's rules; expanding the categories of senior staff positions at member credit unions eligible to serve on a corporate credit union's board; amending the minimum experience and independence requirement for a corporate credit union's enterprise risk management expert; and requiring a corporate credit union to deduct certain investments in subordinated debt instruments issued by natural person credit unions.
Submission for OMB Review; Comment Request
Document Number: 2020-06069
Type: Notice
Date: 2020-03-23
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Sunshine Act Meeting
Document Number: 2020-05539
Type: Notice
Date: 2020-03-16
Agency: National Credit Union Administration, Agencies and Commissions
Subordinated Debt
Document Number: 2020-01537
Type: Proposed Rule
Date: 2020-03-10
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is proposing to amend various parts of the NCUA's regulations to permit low-income designated credit unions (LICUs), Complex Credit Unions, and New Credit Unions to issue Subordinated Debt for purposes of regulatory capital treatment. Specifically, this proposed rule would create a new subpart in the NCUA's final risk-based capital rule (RBC Rule) that would address the requirements for and regulatory capital treatment of Subordinated Debt. This new subpart would, among other things, contain requirements related to applying for authority to issue Subordinated Debt, credit union eligibility to issue Subordinated Debt, prepayments, disclosures, securities laws, and the terms of a Subordinated Debt Note. This proposed rule also makes various additions and amendments to other parts and sections of the NCUA's regulations.
Agency Information Collection Activities: Proposed Collection; Comment Request
Document Number: 2020-03360
Type: Notice
Date: 2020-02-20
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extensions of currently approved collections, as required by the Paperwork Reduction Act of 1995.
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-03219
Type: Notice
Date: 2020-02-19
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act Meeting
Document Number: 2020-02126
Type: Notice
Date: 2020-02-03
Agency: National Credit Union Administration, Agencies and Commissions
Combination Transactions With Non-Credit Unions; Credit Union Asset Acquisitions
Document Number: 2020-01538
Type: Proposed Rule
Date: 2020-01-30
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to add subpart D to part 708a of its regulations. This will clarify and make transparent the procedures and requirements currently in place related to combination transactions. Combination transactions include those where a federally insured credit union (FICU) proposes to assume liabilities from a non- credit union, including a bank. They also include a FICU's merger or consolidation with a non-credit union entity. Further, the proposed rule clarifies the scope of section 741.8 of the NCUA's regulations, which currently requires the NCUA to grant approval before a FICU may purchase loans or assume an assignment of deposits, shares, or liabilities from any institution that is not insured by the National Credit Union Share Insurance Fund (NCUSIF).
Submission for OMB Review; Comment Request
Document Number: 2020-01266
Type: Notice
Date: 2020-01-27
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice.
Sunshine Act: Notice of Agency Meeting
Document Number: 2020-01010
Type: Notice
Date: 2020-01-21
Agency: National Credit Union Administration, Agencies and Commissions
Submission for OMB Review; Comment Request
Document Number: 2020-00871
Type: Notice
Date: 2020-01-21
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice.
Agency Information Collection Activities: Proposed Collection; Comment Request; Suspicious Activity Report
Document Number: 2020-00752
Type: Notice
Date: 2020-01-17
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.
Submission for OMB Review; Comment Request
Document Number: 2020-00419
Type: Notice
Date: 2020-01-14
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice.
Civil Monetary Penalty Inflation Adjustment
Document Number: 2020-00309
Type: Rule
Date: 2020-01-14
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 and the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.