National Credit Union Administration October 2021 – Federal Register Recent Federal Regulation Documents
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Submission for OMB Review; Comment Request
The National Credit Union Administration (NCUA) will submit the following extensions of currently approved 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.
CAMELS Rating System
The NCUA Board (the Board) is updating the NCUA's supervisory rating system from CAMEL to CAMELS by adding the ``S'' (Sensitivity to Market Risk) component to the existing CAMEL rating system and redefining the ``L'' (Liquidity Risk) component. The benefits of adding the ``S'' component are to enhance transparency and allow the NCUA and federally insured natural person and corporate credit unions to better distinguish between liquidity risk (``L'') and sensitivity to market risk (``S''). The addition of ``S'' also enhances consistency between the supervision of credit unions and financial institutions supervised by the other banking agencies. The effective date of the rule will be April 1, 2022. The Board plans to implement the addition of the ``S'' rating component and a redefined ``L'' rating for examinations and contacts started on or after April 1, 2022.
Credit Union Service Organizations (CUSOs)
The NCUA Board (Board) is issuing a final rule that amends the NCUA's credit union service organization (CUSO) regulation. The final rule accomplishes two objectives: expanding the list of permissible activities and services for CUSOs to include the origination of any type of loan that a Federal credit union (FCU) may originate; and granting the Board additional flexibility to approve permissible activities and services.
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