National Credit Union Administration March 2021 – Federal Register Recent Federal Regulation Documents

Credit Union Service Organizations (CUSOs)
Document Number: 2021-06653
Type: Proposed Rule
Date: 2021-03-31
Agency: National Credit Union Administration, Agencies and Commissions
On February 26, 2021, 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 credit union service organization (CUSO) regulation (proposed rule). The proposed rule would accomplish two objectives: Expanding the list of permissible activities and services for CUSOs to include originating any type of loan that a Federal credit union (FCU) may originate; and granting the Board additional flexibility to approve permissible activities and services. The proposed rule provided a 30-day comment period that closed on March 29, 2021. To allow interested persons more time to consider and submit their comments, the Board has decided to extend the comment period for an additional 30 days.
Request for Information and Comment on Financial Institutions' Use of Artificial Intelligence, Including Machine Learning
Document Number: 2021-06607
Type: Notice
Date: 2021-03-31
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, Bureau of Consumer Financial Protection, Board of Governors of the Federal Reserve System
The agencies are gathering information and comments on financial institutions' use of artificial intelligence (AI), including machine learning (ML). The purpose of this request for information (RFI) is to understand respondents' views on the use of AI by financial institutions in their provision of services to customers and for other business or operational purposes; appropriate governance, risk management, and controls over AI; and any challenges in developing, adopting, and managing AI. The RFI also solicits respondents' views on the use of AI in financial services to assist in determining whether any clarifications from the agencies would be helpful for financial institutions' use of AI in a safe and sound manner and in compliance with applicable laws and regulations, including those related to consumer protection.
Central Liquidity Facility
Document Number: 2021-05953
Type: Rule
Date: 2021-03-24
Agency: National Credit Union Administration, Agencies and Commissions
In response to the enactment of the Consolidated Appropriations Act, 2021, (CAA) the NCUA Board (Board) is issuing this interim final rule to cohere the NCUA's regulations to the statutory changes made by the CAA. Specifically, the CAA extended several enhancements to the NCUA's Central Liquidity Facility (CLF or Facility), which were first enacted by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This rule amends the NCUA's CLF regulation to reflect these extensions. This rule also extends the withdrawal from CLF membership provisions that the Board included in the April 2020 interim final rule that made the aforementioned regulatory changes related to the CARES Act.
Asset Thresholds
Document Number: 2021-05967
Type: Rule
Date: 2021-03-23
Agency: National Credit Union Administration, Agencies and Commissions
To mitigate transition costs on credit unions related to the coronavirus disease 2019 (COVID-19 Pandemic), the NCUA Board (Board) is issuing this temporary interim final rule to permit federally insured credit unions (FICUs) to use asset data as of March 31, 2020, in order to determine the applicability of certain regulatory asset thresholds during calendar years 2021 and 2022. Specifically, the interim final rule allows a FICU to use March 31, 2020, financial data when determining whether the institution is subject to capital planning and stress testing requirements under the NCUA's regulations and supervision from the Office of National Examinations and Supervision.
Agency Information Collection Activities: Proposed Collection; Comment Request; Minority Depository Institution Preservation Program
Document Number: 2021-05552
Type: Notice
Date: 2021-03-18
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.
Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Private Flood Insurance
Document Number: 2021-05314
Type: Proposed Rule
Date: 2021-03-18
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) propose to supplement the Interagency Questions and Answers Regarding Flood Insurance with new questions and answers regarding the acceptance of flood insurance policies issued by private insurers pursuant to the Agencies' private flood insurance final rule issued in February 2019. These questions and answers will assist lenders in meeting their responsibilities under the final rule and increase public understanding of the Agencies' respective flood insurance regulations. The Agencies solicit comment on all aspects of these new questions and answers.
Sunshine Act Meetings
Document Number: 2021-05468
Type: Notice
Date: 2021-03-16
Agency: National Credit Union Administration, Agencies and Commissions
Simplification of Risk Based Capital Requirements
Document Number: 2021-01397
Type: Proposed Rule
Date: 2021-03-09
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) Board (Board) is issuing this advance notice of proposed rulemaking (ANPR) to solicit comments on two approaches to simplify its risk-based capital requirements. The Board's risk-based capital requirements are set forth in a final rule dated October 29, 2015, which is currently scheduled to become effective on January 1, 2022. The delayed effective date has provided the Board with additional time to evaluate the capital standards for federally-insured credit unions (FICUs) that are classified as ``complex'' (those with total assets greater than $500 million). The first approach would replace the risk-based capital rule with a Risk-based Leverage Ratio (RBLR) requirement, which uses relevant risk attribute thresholds to determine which complex credit unions would be required to hold additional capital (buffers). The second approach would retain the 2015 risk-based capital rule but enable eligible complex FICUs to opt-in to a ``complex credit union leverage ratio'' (CCULR) framework to meet all regulatory capital requirements. The CCULR approach would be modeled on the ``Community Bank Leverage Ratio'' framework, which is available to certain banks.
CAMELS Rating System
Document Number: 2021-01396
Type: Proposed Rule
Date: 2021-03-09
Agency: National Credit Union Administration, Agencies and Commissions
The Board is proposing to add the ``S'' (Sensitivity to Market Risk) component to the existing CAMEL rating system and redefine the ``L'' (Liquidity Risk) component, thus updating the rating system from CAMEL to CAMELS. The proposal to add the ``S'' component will enhance transparency and allow the NCUA, State Supervisory Authorities, and federally insured credit unions to better distinguish between liquidity risk (``L'') and sensitivity to market risk (``S''). The amendment would also enhance consistency between the regulation of credit unions and other financial institutions. The Board is proposing to implement the addition of the ``S'' rating component and a redefined ``L'' rating as early as the first quarter of 2022.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.