Loans to Members and Lines of Credit to Members

March 18, 2019 NCUA, Regulation lookup 0

Title:

Loans to Members and Lines of Credit to Members
Subject: Lending
Agency: NCUA
Status: Final rule
Summary:

The NCUA Board is amending its regulations regarding loans to members and lines of credit to members to reduce regulatory burden, improve clarity, and make compliance easier. The amendments make the NCUA’s regulations more user friendly by: (1) identifying in one section all of the various maturity limits applicable to federal credit union (FCU)loans; (2) stating that the maturity date for a new loan under generally accepted accounting principles (GAAP) is calculated from the origination date of the new loan; and (3) more clearly expressing the limits for loans to a single borrower or group of associated borrowers.
FR Doc: 2019-05186
Date proposed:
Comments due date:
Final rule effective date:

April 24, 2019
Rule compliance date:
Agency release: Share Insurance Fund Closed 2018 with $226.5 Million Net Income, Net Position of $15.7 Billion
Related Reg Report item(s):

NCUA final rule clarifies credit union lending regs, effective 30 days after publication (March 14, 2019)