Definitions; Organization and Operation of Federal Credit Unions; Credit Union Service Corporations; Supervisory Committee Audits and Verifications; Member Business Loans; Central Liquidity Facility; Description of NCUA

Résumé

The NCUA Board is proposing amendments to various rules to make technical corrections and add and revise certain definitions. The Board is proposing a rule to add a scope section and definitions of "paid-in and unimpaired capital and surplus" and "unimpaired capital and surplus" to its rule containing definitions. TheBoard also proposes to remove obsolete references from this rule and to update its rule concerning changes in officials of newly chartered or troubled credit unions. The Board proposes to correct a citation in the supervisory committee rule and make clarifications to the credit union service organization (CUSO) rule and the member business loan rule. In addition, the Board proposes to update and clarify the definition for "paid-in and unimpaired capital and surplus" in the Central Liquidity Facility (CLF) rule. Finally, the Board proposes to change a reference in Part 790 from the "Office of Community Development Credit Unions" to the "Office of Credit Union Development."