National Credit Union Administration 2011 – Federal Register Recent Federal Regulation Documents

Eligible Obligations, Charitable Contributions, Nonmember Deposits, Fixed Assets, Investments, Member Business Loans, and Regulatory Flexibility Program
Document Number: 2011-33041
Type: Proposed Rule
Date: 2011-12-28
Agency: National Credit Union Administration, Agencies and Commissions
NCUA proposes to eliminate the Regulatory Flexibility Program (RegFlex) to provide regulatory relief to Federal credit unions. NCUA also proposes to remove or amend related rules to ease compliance burden while retaining certain safety and soundness standards. Those rules pertain to eligible obligations, charitable contributions, nonmember deposits, fixed assets, investments, and member business loans.
Agency Information Collection Activities: Submission to OMB for a Extension of a Currently Approved Collection; Comment Request
Document Number: 2011-33029
Type: Notice
Date: 2011-12-27
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA is submitting 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.
Corporate Credit Unions
Document Number: 2011-32721
Type: Rule
Date: 2011-12-22
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing final amendments to its rule governing corporate credit unions (corporates). The final amendments make technical corrections to and clarify certain provisions of the rule. The amendments: delete the definition of ``daily average net risk- weighted assets''; revise the definition of ``net assets'' to exclude Central Liquidity Facility (CLF) stock subscriptions; clarify certain requirements regarding investment action plans; clarify the weighted average life (WAL) tests; revise the consequences of WAL violations; substitute the term ``core capital'' for the phrase ``the sum of retained earnings and paid-in capital''; correct a section heading; and correct a model form instruction.
Maintaining Access to Emergency Liquidity
Document Number: 2011-32720
Type: Proposed Rule
Date: 2011-12-22
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) requests public comment on the scope and requirements of a regulation to require federally insured credit unions (FICUs) to have access to backup federal liquidity sources for use in times of financial emergency and distressed economic circumstances. The Board also seeks comment on how such a regulation could be implemented to maximize economic benefit while minimizing regulatory burden on credit unions.
Loan Participations; Purchase, Sale and Pledge of Eligible Obligations; Purchase of Assets and Assumption of Liabilities
Document Number: 2011-32719
Type: Proposed Rule
Date: 2011-12-22
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) requests public comment on its proposal to amend its loan participation regulation and relevant provisions in the eligible obligations rule and the rule governing the purchase of assets and assumption of liabilities. NCUA has received many questions about the loan participation rule, indicating confusion about its application and its relationship to these other rules. The proposed rule reorganizes the current rule and directs its regulatory provisions to the purchase of a loan participation. It aims to improve understanding of the transactions covered under the rule, as well as the requirements for purchase and ongoing monitoring and the applicability of related provisions. The proposed rule also expands loan participation requirements to federally insured, state-chartered credit unions (FISCUs).
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-31928
Type: Notice
Date: 2011-12-12
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-31806
Type: Notice
Date: 2011-12-09
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: 2011-31088
Type: Notice
Date: 2011-12-05
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.
Agency Information Collection Activities: Submission to OMB for a New Collection; Comment Request
Document Number: 2011-31087
Type: Notice
Date: 2011-12-05
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA is submitting 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.
Agency Information Collection Activities: Submission to OMB for New Collection; Comment Request
Document Number: 2011-31086
Type: Notice
Date: 2011-12-05
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.
Remittance Transfers
Document Number: 2011-30365
Type: Rule
Date: 2011-11-30
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is amending its rules to conform to amendments made to the Federal Credit Union Act (FCU Act) by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The final rule adds remittance transfers, as now defined under the Electronic Fund Transfer Act (EFTA), as an example of money transfer instruments federal credit unions (FCUs) may provide to persons within their fields of membership.
Golden Parachute and Indemnification Payments; Technical Correction
Document Number: 2011-30313
Type: Rule
Date: 2011-11-30
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is finalizing an interim rule to make a technical correction to its rule restricting a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party (IAP). The amendment corrects an exception to the definition of golden parachute payment pertaining to plans offered under section 457 of the Internal Revenue Code. The interim final rule became effective on June 27, 2011. This rulemaking finalizes the interim rule without change.
Agency Sunshine Act Meeting
Document Number: 2011-29490
Type: Notice
Date: 2011-11-14
Agency: National Credit Union Administration, Agencies and Commissions
Agency Sunshine Act Meeting
Document Number: 2011-29488
Type: Notice
Date: 2011-11-14
Agency: National Credit Union Administration, Agencies and Commissions
Community Development Revolving Loan Fund Access for Credit Unions
Document Number: 2011-28335
Type: Rule
Date: 2011-11-02
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing a final rule to change its regulation governing the process by which the agency solicits, receives, evaluates, and acts on credit union applications for loans and technical assistance grants from the Community Development Revolving Loan Fund (CDRLF or Fund). The changes update the rule to increase transparency and are intended to improve its organization, structure, and ease of use by credit unions. The revisions do not reflect a change to the fundamental mission of the CDRLF, but instead remove unnecessary detail and outdated processes in the regulation while adding clarification and flexibility. The final rule also clarifies the application process and adds requirements addressing reporting and monitoring.
Agency Information Collection Activities: Submission to OMB for an Extension of a Currently Approved Collection; Comment Request
Document Number: 2011-28180
Type: Notice
Date: 2011-11-01
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA is submitting 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.
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-27614
Type: Notice
Date: 2011-10-24
Agency: National Credit Union Administration, Agencies and Commissions
Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance
Document Number: 2011-26749
Type: Notice
Date: 2011-10-17
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, Comptroller of the Currency
The OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) are finalizing two new questions and answers, one relating to insurable value and one relating to force placement, and withdrawing one question and answer regarding insurable value. The two final questions and answers supplement the ``Interagency Questions and Answers Regarding Flood Insurance'' (Interagency Questions and Answers), which were published on July 21, 2009 (74 FR 35914). Based on comments received, the Agencies also have significantly revised two questions and answers regarding force placement of flood insurance that were initially proposed on July 21, 2009, and are proposing revision to a previously finalized question and answer. These three revised questions and answers are being proposed for comment.
Agency Information Collection Activities: Submission to OMB for Reinstatement of a Previously Approved Collection; Comment Request
Document Number: 2011-26580
Type: Notice
Date: 2011-10-14
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.
Agency Information Collection Activities: Submission to OMB for New Collection; Comment Request
Document Number: 2011-26577
Type: Notice
Date: 2011-10-14
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.
Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request
Document Number: 2011-26064
Type: Notice
Date: 2011-10-07
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.
Agency Information Collection Activities: Submission to OMB for Revision to a Currently Approved Information Collection; Comment Request
Document Number: 2011-26060
Type: Notice
Date: 2011-10-07
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.
Net Worth and Equity Ratio
Document Number: 2011-24907
Type: Rule
Date: 2011-09-29
Agency: National Credit Union Administration, Agencies and Commissions
On January 4, 2011, President Obama signed Senate Bill 4036 into law, which, among other things, amended the statutory definitions of ``net worth'' and ``equity ratio'' in the Federal Credit Union Act. Through this final rule, NCUA is making conforming amendments to the definition of ``net worth'' as it appears in NCUA's Prompt Corrective Action regulation and the definition of ``equity ratio'' as it appears in NCUA's Requirements for Insurance regulation. NCUA is also making technical changes in other regulations to ensure clarity and consistency in the use of the term ``net worth,'' as it is applied to federally-insured credit unions.
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-24152
Type: Notice
Date: 2011-09-19
Agency: National Credit Union Administration, Agencies and Commissions
Corporate Credit Unions
Document Number: 2011-22540
Type: Proposed Rule
Date: 2011-09-06
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing proposed amendments to its rule governing corporate credit unions (corporates). The proposed amendments clarify certain provisions and make some technical corrections to the rule. The amendments: delete the definition of ``daily average net risk-weighted assets,'' revise the definition of ``net assets'' to exclude Central Liquidity Facility (CLF) stock subscriptions, clarify certain requirements regarding investment action plans, clarify the weighted average life (WAL) tests, revise the consequences of WAL violations, substitute the term ``core capital'' for the phrase ``the sum of retained earnings and paid-in capital,'' correct a section heading, and correct a model form instruction.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: 2011-22338
Type: Notice
Date: 2011-09-01
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.
Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request
Document Number: 2011-22337
Type: Notice
Date: 2011-09-01
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.
Agency Information Collection Activities: Submission to OMB for Revision to a Currently Approved Information Collection; Comment Request
Document Number: 2011-22335
Type: Notice
Date: 2011-09-01
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.
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-21760
Type: Notice
Date: 2011-08-24
Agency: National Credit Union Administration, Agencies and Commissions
Remittance Transfers
Document Number: 2011-18930
Type: Rule
Date: 2011-07-27
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is amending its rules to conform to amendments made to the Federal Credit Union Act (FCU Act) by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The interim final rule adds remittance transfers, as now defined under the Electronic Fund Transfer Act (EFTA), as an example of money transfer instruments Federal credit unions (FCUs) may provide to persons within their fields of membership.
Credit Union Service Organizations
Document Number: 2011-18906
Type: Proposed Rule
Date: 2011-07-27
Agency: National Credit Union Administration, Agencies and Commissions
NCUA proposes to amend its credit union service organization (CUSO) regulation to address certain safety and soundness concerns. Specifically, this proposal expands the requirements of the CUSO regulation that apply to federally insured state-chartered credit unions (FISCUs) to include investment limits for FISCUs that are ``less than adequately capitalized'' and requirements related to accounting and reporting by CUSOs owned by FISCUs. This proposal also adds two new requirements that would apply to both federal credit unions (FCUs) and FISCUs. These new items would include requiring CUSOs to file financial reports directly with NCUA and the appropriate state supervisory authority and requiring subsidiary CUSOs to follow all applicable laws and regulations. Finally, this proposal makes conforming amendments to NCUA's regulation on the requirements for insurance to address the items discussed above that apply to FISCUs.
Sunshine Act Meeting; Notice of Matter To Be Deleted From the Agenda of a Previously Announced Agency Meeting
Document Number: 2011-18687
Type: Notice
Date: 2011-07-22
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-18243
Type: Notice
Date: 2011-07-19
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act Meeting
Document Number: 2011-16197
Type: Notice
Date: 2011-06-27
Agency: National Credit Union Administration, Agencies and Commissions
Financial Derivatives Transactions To Offset Interest Rate Risk; Investment and Deposit Activities
Document Number: 2011-15738
Type: Proposed Rule
Date: 2011-06-24
Agency: National Credit Union Administration, Agencies and Commissions
Through this Advance Notice of Proposed Rulemaking (``ANPR''), the National Credit Union Administration (``NCUA'') requests public comments on whether and how to modify its rule on investment and deposit activities to permit a natural person credit union to engage in the purchase and sale of financial derivatives for the purpose of offsetting interest rate risk. Although permitted by law, NCUA currently allows only a limited number of credit unions, on a case-by- case basis, to engage in such transactions under an investment pilot program.
Sample Income Data To Meet the Low-Income Definition
Document Number: 2011-15731
Type: Rule
Date: 2011-06-24
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA is amending its regulation to permit federal credit unions (FCUs) that do not qualify for a low-income designation using the geo-coding software the agency has developed for that purpose to submit an analysis of a statistically valid sample of member income data as evidence they qualify for the designation. The final rule, by permitting FCUs to use a statistically valid sample of member incomes drawn from loan files or a survey, eases the burden on FCUs seeking to qualify for a low-income designation. The final rule is very similar to the proposed, with additional wording about not combining a survey and loan file review.
Golden Parachute and Indemnification Payments-Technical Correction
Document Number: 2011-15729
Type: Rule
Date: 2011-06-24
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing a technical correction to its rule restricting a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party (IAP), published in the Federal Register of May 26, 2011. The amendment corrects an exception to the definition of golden parachute payment pertaining to plans offered under Sec. 457 of the Internal Revenue Code.
Sunshine Act Meeting; Notice of Agency Meeting
Document Number: 2011-15792
Type: Notice
Date: 2011-06-23
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-14891
Type: Notice
Date: 2011-06-14
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-14597
Type: Notice
Date: 2011-06-10
Agency: National Credit Union Administration, Agencies and Commissions
Golden Parachute and Indemnification Payments
Document Number: 2011-12827
Type: Rule
Date: 2011-05-26
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing a final rule to prohibit, in certain circumstances, a Federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution- affiliated party (IAP). The rule will help safeguard the National Credit Union Share Insurance Fund (NCUSIF) by preventing the wrongful or improper disposition of FICU assets and inhibit unwarranted rewards to IAPs that can contribute to an FICU's troubled condition.
Accuracy of Advertising and Notice of Insured Status
Document Number: 2011-12825
Type: Rule
Date: 2011-05-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board is amending certain provisions of NCUA's official advertising statement rule. Specifically, insured credit unions will be required to include the statement in a greater number of radio and television advertisements, annual reports, and statements of condition required to be published by law. The NCUA Board also is defining the term ``advertisement'' and clarifying size requirements for the official advertising statement in print materials.
Community Development Revolving Loan Fund
Document Number: 2011-12828
Type: Proposed Rule
Date: 2011-05-25
Agency: National Credit Union Administration, Agencies and Commissions
NCUA proposes to change its rule governing the process by which the agency solicits, receives, evaluates, and acts on credit union applications seeking loans and technical assistance grants from the Community Development Revolving Loan Fund (CDRLF or Fund). The proposed changes update the current rule to improve transparency and are intended to improve its organization, structure, and ease of use by credit unions. The revisions do not reflect a change to the fundamental mission of the CDRLF, but instead remove unnecessary detail and outdated processes in the current rule while adding clarification and flexibility. The proposal also clarifies the application process and adds requirements addressing reporting and monitoring.
Share Insurance and Appendix
Document Number: 2011-12826
Type: Rule
Date: 2011-05-25
Agency: National Credit Union Administration, Agencies and Commissions
Section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) \1\ provides that, on a temporary basis, NCUA shall fully insure the net amount that any member or depositor at an insured credit union maintains in a noninterest-bearing transaction account. Although this insurance coverage is self- implementing, and therefore already in place, this final rule: Clarifies the definition of the term ``noninterest-bearing transaction account;'' provides that this new insurance coverage is separate from, and in addition to, other coverage provided in NCUA's share insurance rules; and imposes certain notice and disclosure requirements.
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-12070
Type: Notice
Date: 2011-05-16
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Meeting; Notice of a Matter To Be Added to the Agenda for Consideration at an Agency Meeting
Document Number: 2011-10848
Type: Notice
Date: 2011-05-03
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 2011-10598
Type: Notice
Date: 2011-04-29
Agency: National Credit Union Administration, Agencies and Commissions
Corporate Credit Unions
Document Number: 2011-10108
Type: Rule
Date: 2011-04-29
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing final amendments to its rule governing corporate credit unions (corporates). The amendments include internal control and reporting requirements for corporates similar to those required for banks under the Federal Deposit Insurance Act and the Sarbanes-Oxley Act. The amendments require each corporate to establish an enterprise-wide risk management committee staffed with at least one risk management expert. The amendments require corporates conduct all board of director votes as recorded votes and include the votes of individual directors in the meeting minutes. The amendments permit corporates to charge their members reasonable one-time or periodic membership fees as necessary to facilitate retained earnings growth. For senior corporate executives who are dual employees of corporate credit union service organizations (CUSOs), the amendments also require disclosure of certain compensation received from the corporate CUSO.
Guidelines for the Supervisory Review Committee
Document Number: 2011-10103
Type: Rule
Date: 2011-04-29
Agency: National Credit Union Administration, Agencies and Commissions
This policy statement combines two Interpretative Ruling and Policy Statements (IRPSs) and adds denials of technical assistance grant (TAG) reimbursements to the types of determinations that credit unions may appeal to NCUA's Supervisory Review Committee. This new IRPS will replace the earlier IRPSs addressing the Supervisory Review Committee.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: 2011-9553
Type: Notice
Date: 2011-04-20
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.