National Credit Union Administration – Federal Register Recent Federal Regulation Documents

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Request for Comment Regarding National Credit Union Administration Operating Fee Schedule Methodology
Document Number: 2016-01623
Type: Notice
Date: 2016-01-27
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Operating Budget has two primary funding mechanisms: (1) An Overhead Transfer, which is funded by federal credit unions (FCUs) and federally insured state-chartered credit unions (FISCUs); and (2) annual Operating Fees, which are charged only to FCUs. In a voluntary effort to invite input from stakeholders representing federal and state-chartered credit unions, the NCUA Board (Board) is simultaneously requesting comments on the methodologies for both funding mechanisms in separate notices in the Federal Register. This request for comments focuses on the methodology NCUA uses to determine the aggregate amount of Operating Fees charged to federal credit unions, including the fee schedule that allocates the Operating Fees at different rates among FCUs according to various asset thresholds. While the NCUA Board is interested in all comments from the public and stakeholders, commenters are also asked to consider the following questions when responding: (1) Are the asset determination thresholds reasonable; and (2) is the method for forecasting projected asset growth for the credit union system reasonable? Responding to these questions will provide valuable insight to the NCUA Board with respect to how the Operating Fee is administered. To be most instructive to the Board, commenters are encouraged to provide the specific basis for their comments and recommendations, as well as documentation to support their proposed adjustments or alternatives.
Technical Amendments
Document Number: 2016-01602
Type: Rule
Date: 2016-01-27
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board is amending the section of NCUA's regulations addressing the description of NCUA to make minor, non-substantive technical corrections. The technical amendments update the regulations to reflect current agency office functions and responsibilities and will not cause any substantive changes.
Sunshine Act; Notice of a Matter To Be Added to the Agenda for Consideration at an Agency Meeting
Document Number: 2016-01347
Type: Notice
Date: 2016-01-22
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act Meeting
Document Number: 2016-00986
Type: Notice
Date: 2016-01-19
Agency: National Credit Union Administration, Agencies and Commissions
Share Insurance and Appendix
Document Number: 2015-33056
Type: Rule
Date: 2015-12-31
Agency: National Credit Union Administration, Agencies and Commissions
Pass-Through Share Insurance for Interest on Lawyers Trust Accounts
Document Number: 2015-32164
Type: Rule
Date: 2015-12-28
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending its share insurance regulations to implement statutory amendments to the Federal Credit Union Act (FCU Act or the 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.
Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork Reduction Act of 1996
Document Number: 2015-32167
Type: Notice
Date: 2015-12-23
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is continuing its comprehensive review of its regulations to identify outdated, unnecessary, or burdensome regulatory requirements imposed on federally insured credit unions, as contemplated by section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). This second decennial review of regulations began when the Board issued its first EGRPRA notice on May 22, 2014, covering the two categories of ``Applications and Reporting'' and ``Powers and Activities.'' \1\ The second notice followed, covering the three categories of ``Agency Programs,'' ``Capital,'' and ``Consumer Protection,'' which was published on December 19, 2014.\2\ The third notice was published on June 24, 2015, and covered the next three categories of rules: ``Corporate Credit Unions,'' ``Directors, Officers and Employees,'' and ``Money Laundering.'' \3\ This fourth and final notice covers the remaining two categories: ``Rules of Procedure'' and ``Safety and Soundness.'' This review process presents a significant opportunity to consider the possibilities for burden reduction in groups of similar regulations. The Board welcomes comment on the categories, the order of review, and all other aspects of this initiative in order to maximize the review's effectiveness.
Sunshine Act Meeting
Document Number: 2015-31871
Type: Notice
Date: 2015-12-17
Agency: National Credit Union Administration, Agencies and Commissions
Administrative Actions, Adjudicative Hearings, Rules of Practice and Procedure, and Investigations
Document Number: 2015-31732
Type: Rule
Date: 2015-12-17
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2015-31502
Type: Notice
Date: 2015-12-14
Agency: National Credit Union Administration, Agencies and Commissions
Chartering and Field of Membership Manual
Document Number: 2015-30069
Type: Proposed Rule
Date: 2015-12-10
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board proposes to comprehensively amend its chartering and field of membership rules to put them in a more efficient framework and to maximize access to federal credit union services to the extent permitted by law. The amendments will implement changes in policy affecting: The definition of a local community, a rural district, and an underserved area; the expansion of multiple common bond credit unions and members' proximity to them; the expansion of single common bond credit unions based on a trade, industry or profession; and the process for applying to charter or expand a federal credit union.
Agency Information Collection Activities: Submission for Office of Management and Budget Review; Comment Request; for Reinstatement With Change of a Previously Approved Collection; Organization and Operation of Federal Credit Unions-Loan Participation
Document Number: 2015-30934
Type: Notice
Date: 2015-12-09
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 (PRA). This is related to NCUA's regulation 701.22 that outlines requirements for loan participation programs. The rule requires various information collections, which NCUA uses to ensure credit unions have implemented a safe and sound loan participation program.
Agency Information Collection Activities: Submission to OMB for Reinstatement With Change, Bank Conversions and Mergers, 12 CFR Part 708a; Comment Request
Document Number: 2015-30933
Type: Notice
Date: 2015-12-09
Agency: National Credit Union Administration, Agencies and Commissions
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). The purpose of this notice is to allow for 30 days of public comment. The information collection relates to NCUA's regulation on conversions of federally insured credit unions (FICUs) to mutual savings banks (MSBs) and mergers of FICUs into banks. The regulation requires an insured credit union that proposes to convert to an MSB or merge into a bank to provide notice and disclosure of the proposal to members and NCUA and to conduct a membership vote.
Agency Information Collection; Submission for OMB Review; Comment Request; Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies
Document Number: 2015-30932
Type: Notice
Date: 2015-12-09
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA has submitted to OMB a request for approval under the PRA of the collection of information discussed below. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number.
Sunshine Act: Notice of Agency Meeting
Document Number: 2015-29187
Type: Notice
Date: 2015-11-13
Agency: National Credit Union Administration, Agencies and Commissions
Risk-Based Capital
Document Number: 2015-26790
Type: Rule
Date: 2015-10-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is amending NCUA's current regulations regarding prompt corrective action (PCA) to require that credit unions taking certain risks hold capital commensurate with those risks. The risk-based capital provisions of this final rule apply only to federally insured, natural-person credit unions with assets over $100 million. The overarching intent is to reduce the likelihood of a relatively small number of high-risk outliers exhausting their capital and causing systemic losseswhich, by law, all federally insured credit unions would have to pay through the National Credit Union Share Insurance Fund (NCUSIF). This final rule restructures NCUA's PCA regulations and makes various revisions, including amending the agency's current risk-based net worth requirement by replacing it with a new risk-based capital ratio for federally insured, natural-person credit unions (credit unions). The risk-based capital requirement set forth in this final rule is more consistent with NCUA's risk-based capital measure for corporate credit unions and, as the law requires, more comparable to the regulatory risk-based capital measures used by the Federal Deposit Insurance Corporation (FDIC), Board of Governors of the Federal Reserve System, and Office of the Comptroller of Currency (Other Banking Agencies). The effective date is intended to coincide with the full phase-in of FDIC's risk-based capital measures in 2019. The final rule also eliminates several provisions in NCUA's current PCA regulations, including provisions relating to the regular reserve account, risk-mitigation credits, and alternative risk weights.
Investment and Deposit Activities-Bank Notes
Document Number: 2015-26788
Type: Proposed Rule
Date: 2015-10-22
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend the maturity requirement for bank notes to be permissible investments for federal credit unions (FCUs) by removing the word ``original'' from the current requirement that bank notes have ``original weighted average maturities of less than 5 years.'' This amendment will provide regulatory relief for FCUs.
Sunshine Act: Notice of Agency Meeting
Document Number: 2015-26128
Type: Notice
Date: 2015-10-13
Agency: National Credit Union Administration, Agencies and Commissions
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.
Agency Information Collection Activities: Submission to OMB for Revision of a Currently Approved Information Collection, Credit Union Service Organizations; Comment Request
Document Number: 2015-16497
Type: Notice
Date: 2015-07-06
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 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.
Member Business Loans; Commercial Lending
Document Number: 2015-15466
Type: Proposed Rule
Date: 2015-07-01
Agency: National Credit Union Administration, Agencies and Commissions
As part of NCUA's Regulatory Modernization Initiative, the NCUA Board (Board) proposes to amend its member business loans (MBL) rule to provide federally insured credit unions with greater flexibility and individual autonomy in safely and soundly providing commercial and business loans to serve their members. The proposed amendments would modernize the regulatory requirements that govern credit union commercial lending activities by replacing the current rule's prescriptive requirements and limitationssuch as collateral and security requirements, equity requirements, and loan limitswith a broad principles-based regulatory approach. As such, the amendments would also eliminate the current MBL waiver process, which is unnecessary under a principles-based rule. The Board emphasizes that the proposed rule represents a change in regulatory approach and supervisory expectations for safe and sound lending would change accordingly. With adoption of a final rule, NCUA would publish updated supervisory guidance to examiners, which would be shared with credit unions, to provide more extensive discussion of expectations in relation to the revised rule.
Minority Depository Institution Preservation Program
Document Number: 2015-15515
Type: Notice
Date: 2015-06-24
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board is issuing a final Interpretive Ruling and Policy Statement to establish a Minority Depository Institution Preservation Program for federally insured credit unions.
Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork Reduction Act of 1996
Document Number: 2015-15472
Type: Proposed Rule
Date: 2015-06-24
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is continuing its comprehensive review of its regulations to identify outdated, unnecessary, or burdensome regulatory requirements imposed on federally insured credit unions, as contemplated by section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). This second decennial review of regulations began when the Board issued its first EGRPRA notice on May 22, 2014, covering the two categories of ``Applications and Reporting'' and ``Powers and Activities.'' The second notice followed, covering the three categories of ``Agency Programs,'' ``Capital,'' and ``Consumer Protection,'' which was published on December 19, 2014. The Board continues the review process with the publication of this third notice, covering the next three categories of rules: ``Corporate Credit Unions,'' ``Directors, Officers and Employees,'' and ``Money Laundering.'' This review presents a significant opportunity to consider the possibilities for burden reduction in groups of similar regulations. The Board welcomes comment on the categories, the order of review, and all other aspects of this initiative in order to maximize the review's effectiveness.
Sunshine Act: Notice of Agency Meeting
Document Number: 2015-14726
Type: Notice
Date: 2015-06-15
Agency: National Credit Union Administration, Agencies and Commissions
Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies
Document Number: 2015-14126
Type: Notice
Date: 2015-06-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, Securities and Exchange Commission, 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 OCC, Board, FDIC, NCUA, CFPB, and SEC are issuing a final interagency policy statement establishing joint standards for assessing the diversity policies and practices of the entities they regulate, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
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.
Sunshine Act: Notice of Agency Meeting
Document Number: 2015-09856
Type: Notice
Date: 2015-04-27
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act: Notice Of Agency Meeting
Document Number: 2015-09726
Type: Notice
Date: 2015-04-24
Agency: National Credit Union Administration, Agencies and Commissions
Federal Credit Union Ownership of Fixed Assets
Document Number: 2015-06816
Type: Proposed Rule
Date: 2015-03-30
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing for public comment this proposed rule (2015 proposal) to amend its regulation governing federal credit union (FCU) ownership of fixed assets. To provide regulatory relief to FCUs, the 2015 proposal eliminates a provision in the current fixed assets rule that established a five percent aggregate limit on investments in fixed assets for FCUs with $1,000,000 or more in assets. It also eliminates the provisions in the current fixed assets rule relating to waivers from the aggregate limit. Further, instead of applying the prescriptive aggregate limit provided by regulation in the current fixed assets rule, the Board proposes to oversee FCU ownership of fixed assets through the supervisory process and guidance. The 2015 proposal also makes conforming amendments to the scope and definitions sections of the current fixed assets rule to reflect this proposed approach, and it amends the title of Sec. 701.36 to more accurately reflect this amended scope and applicability. In addition, the 2015 proposal simplifies the fixed assets rule's partial occupancy requirements for FCU premises acquired for future expansion by establishing a single six-year time period for partial occupancy of such premises and by removing the 30-month requirement for partial occupancy waiver requests. The Board notes that, in July 2014, it issued a proposal regarding the fixed assets rule that addressed, among other things, the partial occupancy provisions of the fixed assets rule (July 2014 proposal), but NCUA did not finalize that proposal. For reasons discussed below, the 2015 proposal incorporates similar partial occupancy proposed amendments from the July 2014 proposal, with one modification to the time period for partial occupancy.
Sunshine Act: Notice of Agency Meeting
Document Number: 2015-06055
Type: Notice
Date: 2015-03-16
Agency: National Credit Union Administration, Agencies and Commissions
Promulgation of NCUA Rules and Regulations
Document Number: 2015-03806
Type: Proposed Rule
Date: 2015-03-05
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) proposes to amend Interpretive Ruling and Policy Statement (IRPS) 87-2, as amended by IRPS 03-2 and 13-1. The amended IRPS would increase the asset threshold used to define small entity under the Regulatory Flexibility Act (RFA) from $50 million to $100 million and, thereby, provide transparent consideration of regulatory relief for a greater number of credit unions in future rulemakings. The proposed rule and IRPS also make a technical change to NCUA's regulations in connection with NCUA's procedures for developing regulations.
Sunshine Act: Notice of Agency Meeting
Document Number: 2015-02955
Type: Notice
Date: 2015-02-11
Agency: National Credit Union Administration, Agencies and Commissions
Risk-Based Capital
Document Number: 2015-00947
Type: Proposed Rule
Date: 2015-01-27
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is seeking comment on a second proposed rule that would amend NCUA's current regulations regarding prompt corrective action (PCA) to require that credit unions taking certain risks hold capital commensurate with those risks. The proposal would restructure NCUA's PCA regulations and make various revisions, including amending the agency's current risk-based net worth requirement by replacing the current risk-based net worth ratio with a new risk-based capital ratio for federally insured natural person credit unions (credit unions). The proposal would also, in response to public comments received, make a number of changes to the original proposed rule that the Board published in the Federal Register on February 27, 2014. These changes include, among other things, exempting credit unions with up to $100 million in total assets from the new rule, lowering the risk-based capital ratio level required for an affected credit union to be classified as well capitalized from 10.5 percent to 10 percent, lowering the risk weights for various classes of assets, removing interest rate risk components from the risk weights, and extending the implementation timeframe to January 1, 2019. These changes would substantially reduce the number of credit unions subject to the rule, reduce the impact on affected credit unions, and afford affected credit unions sufficient time to prepare for the rule's implementation. The proposed risk-based capital requirement set forth in this proposal would be more consistent with NCUA's risk-based capital measure for corporate credit unions and more comparable to the regulatory risk-based capital measures used by the Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve, and Office of the Comptroller of Currency (Other Banking Agencies). In addition, the proposed revisions would amend the risk weights for many of NCUA's current asset classifications; require higher minimum levels of capital for credit unions with concentrations of assets in real estate loans or commercial loans or higher levels of non-current loans; and set forth how NCUA can address a credit union that does not hold capital that is commensurate with its risk. The proposed revisions would also eliminate several provisions in NCUA's current PCA regulations, including provisions relating to the regular reserve account, risk-mitigation credits, and alternative risk weights. (For clarity, the ``current'' PCA regulations would remain in force until the effective date of a final risk-based capital rule.)
Capital Planning and Stress Testing-Schedule Shift
Document Number: 2015-01239
Type: Proposed Rule
Date: 2015-01-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is issuing proposed amendments to the regulation governing credit union capital planning and stress testing. The amendments would adjust the timing of certain events in the capital planning and stress testing cycles. If finalized, the revisions to the regulation would become effective January 1, 2016.
Agency Information Collection Activities: Submission for Office of Management and Budget Review; Comment Request; for Extension of a Previously Approved Collection; Golden Parachutes and Indemnification Payments
Document Number: 2015-00976
Type: Notice
Date: 2015-01-22
Agency: National Credit Union Administration, Agencies and Commissions
NCUA 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 (PRA) (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 is related to NCUA's regulation that prohibits, in certain circumstances, a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party (IAP). The regulation requires requests for a troubled FICU to make a severance or golden parachute payment to an IAP to be submitted in writing to NCUA.
Agency Information Collection Activities: Submission for Office of Management and Budget Review; Comment Request; for Extension of a Currently Approved Collection; Requirement for Insurance-Interest Rate Risk Policy
Document Number: 2015-00975
Type: Notice
Date: 2015-01-22
Agency: National Credit Union Administration, Agencies and Commissions
NCUA 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 (PRA) (Pub. L. 104-13, 44 U.S.C. Chapter 35). The purpose of this notice is to allow for 30 days of public comment. Federally insured credit unions with more than $50 million in assets are required to have a written interest rate risk (IRR) policy and an effective IRR management program as a condition for insurance of accounts. The information collection is currently authorized under OMB Control Number 3133-0184. The information collection allows NCUA to determine whether a credit union's financial condition and policies regarding interest rate risk are both safe and sound and meet the requirements for insurance of accounts.
Agency Information Collection Activities: Amendment to Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery; Comment Request
Document Number: 2015-00974
Type: Notice
Date: 2015-01-22
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 notice is published to obtain comments from the public. In connection with NCUA's effort to streamline the process and increase feedback obtained from the public on service delivery, NCUA intends to amend, 3133-0188, ``Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery''.
Agency Information Collection Activities: Submission for Office of Management and Budget Review; Comment Request; for New Collection Involuntary Liquidation Proof of Claim Form and Instructions
Document Number: 2015-00973
Type: Notice
Date: 2015-01-22
Agency: National Credit Union Administration, Agencies and Commissions
NCUA 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 (PRA) (Pub. L. 104-13, 44 U.S.C. Chapter 35). The purpose of this notice is to allow for 30 days of public comment. NCUA is appointed the liquidating agent of a credit union when a credit union is placed into involuntary liquidation. NCUA is required to notify creditors of the liquidated credit union that they must submit claims, together with proof, to the liquidating agent. This is a one-time requirement to which creditors will respond by submitting the proposed Proof of Claim form.
Agency Information Collection Activities: Extension of a Previously Approved Collection; for Prompt Corrective Action; Comment Request
Document Number: 2015-00972
Type: Notice
Date: 2015-01-22
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit the following proposed collection of information 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 notice is published to obtain comments from the public. This is related to NCUA's Prompt Corrective Action (PCA) regulation. NCUA uses the information provided to ensure the purpose of PCA is being carried out and that credit unions build adequate levels of net worth within a reasonable time.