Temporary Regulatory Relief in Response to COVID-19 (loan participations)

Title:

Temporary Regulatory Relief in Response to COVID-19

Subject: Loan participations
Agency: NCUA
Status: Temporary final rule
Summary:

The NCUA Board (Board) is temporarily modifying certain regulatory requirements to help ensure that federally insured credit unions (FICUs) remain operational and liquid during the COVID-19 crisis. Specifically, the Board is temporarily raising the maximum aggregate amount of loan participations that a FICU may purchase from a single originating lender to the greater of $5,000,000 or 200 percent of the FICU’s net worth. The Board is also temporarily suspending limitations on the eligible obligations that a federal credit union (FCU) may purchase and hold. In addition, given physical distancing policies implemented in response to the crisis, the Board is tolling the required timeframes for the occupancy or disposition of properties not being used for FCU business or that have been abandoned. These temporary modifications will be in place until December 31, 2020, unless extended.

FR Doc:
Date proposed:
Comments due date:
Final rule effective date:

April 21 through Dec. 31, 2020

Rule compliance date:
Agency release:

Related Reg Report item(s):

Temporary rules for credit unions on appraisal deferrals, loan participations set to take effect Tuesday

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