Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 720 - CREDIT UNIONS
Section 441-720-0130 - Minimum Capital Ratio

Universal Citation: OR Admin Rules 441-720-0130

Current through Register Vol. 63, No. 9, September 1, 2024

(1) The corporate central credit union shall maintain a minimum ratio of risk-based capital to risk-weighted assets as follows:

(a) By no later than December 31, 1992, primary capital shall be at least four percent of risk-weighted assets, or the corporate central credit union will develop and implement a plan acceptable to the Director for achieving an adequate level of primary capital consistent with the provisions of OAR Chapter 441, Division 720. This plan shall be submitted to the Director;

(b) By January 1, 1994, total capital shall equal at least eight percent of risk-weighted assets, or the corporate central credit union will develop and implement a plan acceptable to the Director for achieving an adequate level of capital consistent with the provisions of OAR Chapter 441, Division 720. This plan shall be submitted to the Director.

(2) The Director may modify the corporate central credit union's reserve requirements under special circumstances.

(3) The corporate central credit union's qualifying capital base shall consist of primary and secondary capital of which at least 50 percent shall be composed of primary capital.

(4) For purposes of calculating the amount of secondary capital, term subordinated debt shall not exceed 50 percent of secondary capital.

Stat. Auth.: ORS 723.102, ORS 723.156 & ORS 723.730

Stats. Implemented: ORS 723.730

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