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

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