Corporate Credit Unions

Title:
Corporate Credit Unions
Subject: Corporate credit unions
Agency: NCUA
Status: Proposed rule
Summary:
The NCUA Board (Board) is seeking comment on a proposed rule that would amend the NCUA’s corporate credit union regulation. The proposed rule would update, clarify, and simplify several provisions of the NCUA’s corporate credit union regulation, including: Permitting a corporate credit union to make a minimal investment in a credit union service organization (CUSO) without the CUSO being classified as a corporate CUSO under the NCUA’s rules; expanding the categories of senior staff positions at member credit unions eligible to serve on a corporate credit union’s board; amending the minimum experience and independence requirement for a corporate credit union’s enterprise risk management expert; and requiring a corporate credit union to deduct certain investments in subordinated debt instruments issued by natural person credit unions.
FR Doc: 2020-03837; 2020-07159 (comment deadline extended); 2020-07159 (correction of comment deadline extension)
Date proposed: March 27, 2020
Comments due date: July 27, 2020

Rule compliance date:
Agency release:

Related Reg Report item(s):

Proposal would allow corporates to invest in credit union subordinated debt – but only after capital deduction

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