Current through Register Vol. 63, No. 9, September 1, 2024
(1)
The amount that the corporate central credit union is required to transfer or
set aside in corporate reserves is based on both the corporate central credit
union's primary and total capital ratios.
(2) Ranges of capital ratios have been
established as set forth in OAR
441-720-0130. These ratios shall
be associated with one of the six corresponding categories set forth in section
(5) of this rule in determining the required reserve transfer.
(3) To qualify for a lower reserve transfer
category, the capital ratios must fall in both the primary and total capital
ratio ranges of the applicable category.
(4) The corporate central credit union shall
set aside an amount equal to the appropriate required reserve transfer
percentage times the corporate central credit union's average daily assets for
the transfer period times the number of days in the transfer period divided by
365. Until January 1, 1994, transfers shall be based on the level of primary
capital only.
(5) For purposes of
determining the required reserve transfer, the following categories are
established:
(a) Category 1. Category 1
requires a corporate reserve transfer percentage of at least 25 basis points of
average daily assets when either the primary capital ratio is less than four
percent or the total capital ratio is less than eight percent. A corporate
reserve transfer percentage greater than 25 basis points of average daily
assets is required if needed to bring either or both of the capital ratios up
to the minimum acceptable level, or the corporate central credit union would
have to obtain approval from the Director to operate below the minimum capital
levels;
(b) Category 2. Category 2
requires a corporate reserve transfer percentage of 20 basis points of average
daily assets when either the primary capital ratio is greater than four percent
and less than six percent or the total capital ratio is greater than eight
percent and less than nine percent;
(c) Category 3. Category 3 requires a
corporate reserve transfer percentage of 15 basis points of average daily
assets when either the primary capital ratio is greater than six percent and
less than eight percent or the total capital ratio is greater than nine percent
and less than 12 percent;
(d)
Category 4. Category 4 requires a corporate reserve transfer percentage of ten
basis points of average daily assets when either the primary capital ratio is
greater than eight percent and less than 10 percent or the total capital ratio
is greater than 12 percent and less than 15 percent;
(e) Category 5. Category 5 requires a
corporate reserve transfer percentage of five basis points of average daily
assets when either the primary capital ratio is greater than ten percent and
less than 12 percent or the total capital ratio percentage is greater than 15
percent and less than 18 percent;
(f) Category 6. Category 6 requires a
corporate reserve transfer percentage of zero basis points when the primary
capital ratio is greater than 12 percent and the total capital ratio percentage
is greater than 18 percent.
(6) Corporate credit unions must provide
reserves necessary for full and fair disclosure.
Stat. Auth.: ORS
723.102, ORS
723.156 & ORS
723.730
Stats. Implemented: ORS
723.730
