Simplification of Share Insurance Rules


Simplification of Share Insurance Rules

Subject: Share insurance; trust accounts, MSAs
Agency: NCUA
Proposed rule

The NCUA Board (Board) is seeking comment on proposed amendments to its regulations governing share insurance coverage. The proposed rule would address the following items: simplify the share insurance regulations by establishing a “trust accounts” category that would provide for coverage of funds of both revocable trusts and irrevocable trusts deposited at federally insured credit unions (FICUs); provide consistent share insurance treatment for all mortgage servicing account (MSA) balances held to satisfy principal and interest obligations to a lender; and provide more flexibility for the NCUA to consider various records in determining share insurance coverage in liquidations.

FR Doc: 2023-23481
Date proposed: Oct. 19, 2023
Comments due date: Dec. 26, 2023
Effective date:

Rule compliance date:
Agency release:
Related Reg Report item(s):

Proposed changes in NCUA’s share insurance rule would clarify coverage, conform with FDIC coverage rules