Comments Due to NAFCU: NCUA - Emergency Mergers

Calendar Thumbnail - Comments Due to NAFCU

September 14, 2017

The National Credit Union Administration (NCUA) Board has issued a proposed rule to amend the definition of "in danger of insolvency" in the glossary to Appendix B to Part 701 of its Chartering and Field of Membership Manual. NAFCU would like to highlight the following:

  • The National Credit Union Administration (NCUA) Board proposes to amend its Chartering and Field of Membership Manual to redefine the phrase "in danger of insolvency" for purposes of an emergency merger.
  • The new definition would lengthen by six months the forecast horizons for two of the three net worth categories that a credit union is required to fall into over a period of time to be considered "in danger of insolvency."
  • The proposed rule would also add a fourth category to the three existing net worth categories to include credit unions that have been granted or received assistance under Section 208 of the Federal Credit Union Act in the 15 months prior to a determination that the credit union is in danger of insolvency.

Regulatory Alert: 17-EA-23: NCUA - Emergency Mergers (member-only; login required)

Take the NAFCU Member Survey for Comments (Comments due to NAFCU by September 14, 2017)

NAFCU will send comments on behalf of its members to the NCUA by their deadline (September 29, 2017).