|Federal Information & News Dispatch, Inc.|
CFR Part: "12 CFR Parts 702, 741 and 791"
RIN Number: "RIN 3133-AE07"
Citation: "78 FR 4032"
"Rules and Regulations"
SUMMARY: 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 two NCUA regulations that apply asset thresholds to grant relief from risk-based net worth and interest rate risk requirements. The amended IRPS increases the asset threshold that identifies credit unions to which NCUA will give more robust consideration of regulatory relief in future rulemakings. The amended regulations similarly include increased asset thresholds, granting immediate and prospective relief from existing regulatory burden to a larger group of small credit unions.
EFFECTIVE DATE: This rule is effective
FOR FURTHER INFORMATION CONTACT:
II. Summary of Public Comments
III. Final Rule
IV. Regulatory Procedures
What changes does this final rule make?
The Regulatory Flexibility Act, Public Law 96-354, as amended (RFA), generally requires federal agencies to determine and specially consider the impact of proposed and final rules on small entities. Since 2003, NCUA has defined "small entity" in this context as a credit union with less than
FOOTNOTE 1 IRPS 03-2, 68 FR 31949 (
What changes were proposed?
FOOTNOTE 2 The proposal also included a technical amendment to 12 CFR 791.8. END FOOTNOTE
What is the history and purpose of the RFA?
FOOTNOTE 3 5 U.S.C. 603, 604, 605(b). The term "small entity" as used in the RFA includes small businesses, small organizations, and small government jurisdictions. 5 U.S.C. 601(6). Credit unions fall within the definition of organization. 5 U.S.C. 601(4). The RFA gives agencies authority, under certain conditions, to establish their own definition of "small entity." Id. END FOOTNOTE