[The Regulatory Plan and Unified Agenda of Federal Regulatory and Deregulatory Actions] [National Credit Union Administration Semiannual Regulatory Agenda] [From the U.S. Government Printing Office, www.gpo.gov] [[Page 62717]] ----------------------------------------------------------------------- Part LVIII National Credit Union Administration ----------------------------------------------------------------------- Semiannual Regulatory Agenda [[Page 62718]]NATIONAL CREDIT UNION ADMINISTRATION (NCUA) _______________________________________________________________________ NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Ch. VII Semiannual Regulatory Agenda AGENCY: National Credit Union Administration (NCUA). ACTION: Semiannual regulatory agenda. _______________________________________________________________________ SUMMARY: Pursuant to its ongoing policy of reviewing regulations, NCUA is publishing a list of current and projected rulemakings, reviews of existing regulations, and completed actions as of September 13, 2001, to be included in the Unified Agenda of Federal Regulatory and Deregulatory Actions. DATES: This information is current as of September 13, 2001. ADDRESSES: National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428. FOR FURTHER INFORMATION CONTACT: For each regulation listed, the person(s) named in the listing, at the above address, unless otherwise noted, or listed telephone number. SUPPLEMENTARY INFORMATION: The purpose of this agenda is to enable credit unions and the public to follow regulatory development and review at NCUA, and participate in that process more effectively. Entries for the agenda appear in one of five possible categories: prerule stage; proposed rule stage; final rule stage; long-term actions; or completed actions. The agenda is published pursuant to NCUA Interpretive Ruling and Policy Statement Number 87-2, ``Developing and Reviewing Government Regulations,'' 54 FR 35231, (September 18, 1987), which sets out NCUA's policy and procedures for developing and reviewing its regulations. NCUA's policy is to ensure that its regulations impose only minimum required burdens on credit unions, consumers, and the public; are appropriate for the size of the financial institutions it regulates; are issued only after full public participation; and are clear and understandable. Further, NCUA undertakes to review all regulations every three years to clarify and simplify existing regulations and eliminate redundant and unnecessary provisions. Executive Order 12866, signed by President Clinton on September 30, 1993, requires independent executive agencies such as NCUA to publish a regulatory agenda. Approved by the NCUA Board on September 18, 2001. Becky Baker, Secretary of the Board. National Credit Union Administration--Prerule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4514 Investment and Deposit Activities.................................................. 3133-AC49 ---------------------------------------------------------------------------------------------------------------- National Credit Union Administration--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4515 Corporate Credit Unions............................................................ 3133-AC28 4516 Requirements for Insurance......................................................... 3133-AC33 4517 Credit Practices................................................................... 3133-AC34 4518 Requirements for Insurance......................................................... 3133-AC46 4519 Eligible Obligations --; Conflict of Interest Provision............................ 3133-AC51 4520 Reimbursement, Insurance, and Indemnification of Officials and Employees........... 3133-AC54 4521 Consumer Protections for Federally Insured Credit Unions Sale of Nondeposit 3133-AC56 Investments......................................................................... ---------------------------------------------------------------------------------------------------------------- National Credit Union Administration--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4522 Regulatory Flexibility and Exemption Program....................................... 3133-AC38 4523 OMB Control Numbers................................................................ 3133-AC52 4524 Definitions and Technical Amendments............................................... 3133-AC53 4525 Truth in Savings................................................................... 3133-AC57 4526 Nondiscrimination in Federally Assisted Programs................................... 3133-AC59 ---------------------------------------------------------------------------------------------------------------- [[Page 62719]] National Credit Union Administration--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4527 Incidental Powers.................................................................. 3133-AC07 4528 Records Preservation Program and Record Retention Appendix......................... 3133-AC41 4529 Credit Practices................................................................... 3133-AC43 4530 Prepayment Fees to Federal Home Loan Bank.......................................... 3133-AC44 4531 Credit Union Service Organizations (CUSOs)......................................... 3133-AC45 4532 Community Development Revolving Loan Program for Credit Unions..................... 3133-AC47 4533 Interpretive Ruling and Policy Statement (IRPS-01-2) Central Liquidity Facility 3133-AC48 Advance Policy...................................................................... 4534 Requirements for Insurance (Subpart B)............................................. 3133-AC55 4535 Nondiscrimination in Advertising................................................... 3133-AC58 ---------------------------------------------------------------------------------------------------------------- _______________________________________________________________________ National Credit Union Administration (NCUA) Prerule Stage _______________________________________________________________________ 4514. INVESTMENT AND DEPOSIT ACTIVITIES Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1757(7); 12 USC 1757(8); 12 USC 1757(15) CFR Citation: 12 CFR 703 Legal Deadline: None Abstract: The advanced notice of proposed rulemaking intends to solicit comments on how to update and clarify NCUA's investment and deposit activities rules. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 10/26/01 66 FR 54168 ANPRM Comment Period End 01/24/02 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Frank S. Kressman, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6558 Fax: 703 518-6569 Email: fkressman@ncua.gov RIN: 3133-;AC49 _______________________________________________________________________ National Credit Union Administration (NCUA) Proposed Rule Stage _______________________________________________________________________ 4515. CORPORATE CREDIT UNIONS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 12 USC 1762; 12 USC 1766(a); 12 USC 1781; 12 USC 1789 CFR Citation: 12 CFR 704 Legal Deadline: None Abstract: NCUA requests public comment on revisions to the rule governing corporate credit unions. As part of its regulatory review process, NCUA has identified provisions for further clarification or revision. Comments on these issues will assist NCUA in its regulatory review process. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 07/28/99 64 FR 40787 ANPRM Comment Period End 11/26/99 ANPRM 11/22/00 65 FR 70319 ANPRM Comment Period End 02/20/01 NPRM 09/21/01 66 FR 48742 NPRM Comment Period End 12/20/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Mary F. Rupp, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6540 Email: maryr@ncua.gov RIN: 3133-;AC28 _______________________________________________________________________ 4516. REQUIREMENTS FOR INSURANCE Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1756 to 1757; 12 USC 1757A; 12 USC 1766; 12 USC 1785; 12 USC 1781 CFR Citation: 12 CFR 741 Legal Deadline: None Abstract: NCUA is soliciting public comment on whether NCUA should adopt a regulation that would restrict the insurance coverage for State-chartered credit unions that open branches outside the United States. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 09/14/00 65 FR 55464 NPRM 12/00/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No [[Page 62720]] Government Levels Affected: Undetermined Federalism: Undetermined Agency Contact: Michael J. McKenna, Senior Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6562 Email: mmckenna@ncua.gov RIN: 3133-;AC33 _______________________________________________________________________ 4517. CREDIT PRACTICES Priority: Substantive, Nonsignificant Legal Authority: 15 USC 57a; 15 USC 1681b CFR Citation: 12 CFR 706 Legal Deadline: None Abstract: NCUA issued a proposed regulation under the Fair Credit Reporting Act that addresses the sharing of opt-out information between Federal credit unions and their affiliates. NCUA intends to issued a second proposal for comment. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/26/00 65 FR 64168 NPRM Comment Period End 12/26/00 NPRM 12/00/01 NPRM Comment Period End 02/00/02 Final Action 05/00/02 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Chrisanthy J. Loizos, Staff Attorney, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6567 Fax: 703 518-6569 Email: cloizos@ncua.gov RIN: 3133-;AC34 _______________________________________________________________________ 4518. REQUIREMENTS FOR INSURANCE Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 12 USC 1757; 12 USC 1766; 12 USC 1781 to 1790 CFR Citation: 12 CFR 741 Legal Deadline: None Abstract: Currently, only credit unions with over $50,000,000 in assets file quarterly call reports. NCUA is considering moving to a risk- based, flexible schedule examination program. This proposal requests comment on whether, as a condition of implementation of that program, all credit unions should file quarterly call reports. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/03/01 66 FR 40642 NPRM Comment Period End 11/01/01 Final Action 03/00/02 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Mary F. Rupp, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6540 Email: maryr@ncua.gov RIN: 3133-;AC46 _______________________________________________________________________ 4519. ELIGIBLE OBLIGATIONS --; CONFLICT OF INTEREST PROVISION Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 12 USC 1759; 12 USC 1761a CFR Citation: 12 CFR 701.23 Legal Deadline: None Abstract: Section 701.23 sets forth the requirements for purchasing, selling, and pledging eligible obligations (loans) by Federal credit unions. NCUA plans to propose a conflict of interest provision for this section, similar to section 701.21(c)(8)(i) of the lending rule. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/00/02 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: No Government Levels Affected: None Federalism: Undetermined Agency Contact: Regina M. Metz, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6540 Email: rmetz@ncua.gov RIN: 3133-;AC51 _______________________________________________________________________ 4520. REIMBURSEMENT, INSURANCE, AND INDEMNIFICATION OF OFFICIALS AND EMPLOYEES Priority: Substantive, Nonsignificant Legal Authority: Not Yet Determined CFR Citation: 12 CFR 701.33 Legal Deadline: None Abstract: Revise regulation to clarify, streamline and update to include recent interpretations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/03/01 66 FR 40641 NPRM Comment Period End 10/03/01 Final Action 12/00/01 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Dianne M. Salva, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6540 Email: dsalva@ncua.gov RIN: 3133-;AC54 _______________________________________________________________________ 4521. CONSUMER PROTECTIONS FOR FEDERALLY INSURED CREDIT UNIONS SALE OF NONDEPOSIT INVESTMENTS Priority: Substantive, Nonsignificant Legal Authority: Not Yet Determined CFR Citation: Not Yet Determined Legal Deadline: None Abstract: NCUA is proposing regulations to ensure that the sale to members of all nondeposit investments through various types of arrangements is done in a safe and sound manner. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Mary F. Rupp, Staff Attorney, Office of General Counsel, [[Page 62721]] National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6540 Email: maryr@ncua.gov RIN: 3133-;AC56 _______________________________________________________________________ National Credit Union Administration (NCUA) Final Rule Stage _______________________________________________________________________ 4522. REGULATORY FLEXIBILITY AND EXEMPTION PROGRAM Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1757; 12 USC 1756; 12 USC 1766 CFR Citation: 12 CFR 742 Legal Deadline: None Abstract: NCUA solicited public comment on whether NCUA should adopt a regulation that would permit well capitalized credit unions to be exempt from certain NCUA regulations, in whole or in part. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 03/22/00 65 FR 15275 ANPRM Comment Period End 05/22/00 NPRM 03/15/01 66 FR 15055 NPRM Comment Period End 05/14/01 Final Action 12/00/01 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Michael J. McKenna, Senior Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6562 Email: mmckenna@ncua.gov RIN: 3133-;AC38 _______________________________________________________________________ 4523. OMB CONTROL NUMBERS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1766(a); 5 USC 3507(f) CFR Citation: 12 CFR 795 Legal Deadline: None Abstract: NCUA plans to update the display table that lists the current OMB control numbers and the 12 CFR part or section where each number is described or identified. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 12/00/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Regina M. Metz, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6540 Email: rmetz@ncua.gov RIN: 3133-;AC52 _______________________________________________________________________ 4524. DEFINITIONS AND TECHNICAL AMENDMENTS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1752; 12 USC 1755 to 1757; 12 USC 1759; 12 USC 1761; 12 USC 1766 to 1767; ... CFR Citation: 12 CFR 700; 12 CFR 701; 12 CFR 712; 12 CFR 723; 12 CFR 725; ... Legal Deadline: None Abstract: NCUA plans to amend various rules to make technical corrections and revise certain definitions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/21/01 66 FR 33211 NPRM Comment Period End 08/20/01 Final Action 12/00/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Regina M. Metz, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6540 Email: rmetz@ncua.gov RIN: 3133-;AC53 _______________________________________________________________________ 4525. TRUTH IN SAVINGS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 4311 CFR Citation: 12 CFR 707 Legal Deadline: Other, Statutory, November 6, 2001, Interim Final Rule. Mandated by Truth in Savings Act. Abstract: NCUA is amending its Truth in Savings rule in compliance with the Truth in Savings Act which requires NCUA to amend its rule in conformity with changes made by the Federal Reserve Board to its Regulation DD. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Frank S. Kressman, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6558 Fax: 703 518-6569 Email: fkressman@ncua.gov RIN: 3133-;AC57 _______________________________________________________________________ 4526. NONDISCRIMINATION IN FEDERALLY ASSISTED PROGRAMS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 42 USC 2000d et seq; 29 USC 793; 42 USC 6101 et seq CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The purpose of this rule is to implement Federal statutes that prohibit credit unions that receive Federal financial assistance from discrimination on certain bases. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 12/00/01 Final Action Effective 01/00/02 [[Page 62722]] Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Paul M. Peterson, Staff Attorney, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6555 Fax: 703 518-6569 Email: ppeterson@ncua.gov RIN: 3133-;AC59 _______________________________________________________________________ National Credit Union Administration (NCUA) Completed Actions _______________________________________________________________________ 4527. INCIDENTAL POWERS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1757(16); 12 USC 1766; 12 USC 1789 CFR Citation: 12 CFR 721 Legal Deadline: None Abstract: The NCUA revised this part to categorize activities deemed to be within the incidental powers of a Federal credit union. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 11/26/99 64 FR 66413 NPRM 11/24/00 65 FR 70526 Final Action 08/06/01 66 FR 40845 Final Action Effective 09/05/01 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Michael J. McKenna, Senior Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6562 Email: mmckenna@ncua.gov RIN: 3133-;AC07 _______________________________________________________________________ 4528. RECORDS PRESERVATION PROGRAM AND RECORD RETENTION APPENDIX Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1766 CFR Citation: 12 CFR 749 Legal Deadline: None Abstract: Review and update provisions regarding record retention requirements and electronic storage. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/23/01 66 FR 11239 NPRM Comment Period End 04/24/01 Final Action 08/03/01 66 FR 40579 Final Action Effective 09/04/01 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Dianne M. Salva, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6540 Email: dsalva@ncua.gov RIN: 3133-;AC41 _______________________________________________________________________ 4529. CREDIT PRACTICES Priority: Substantive, Nonsignificant Legal Authority: 15 USC 57a; 15 USC 1681b CFR Citation: 12 CFR 706 Legal Deadline: None Abstract: NCUA has postponed its consideration of a broad advance notice of proposed rulemaking regarding the Fair Credit Reporting Act (FCRA) until NCUA and the bank regulatory agencies complete their FCRA opt-out notice rulemaking. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Withdrawn 07/31/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Chrisanthy J. Loizos, Staff Attorney, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6567 Fax: 703 518-6569 Email: cloizos@ncua.gov RIN: 3133-;AC43 _______________________________________________________________________ 4530. PREPAYMENT FEES TO FEDERAL HOME LOAN BANK Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1787 CFR Citation: 12 CFR 709 Legal Deadline: None Abstract: NCUA adopted a rule clarifying that as conservator or liquidating agent of a federally insured credit union, the NCUA Board will honor a claim for prepayment fees by a Federal Home Loan Bank under certain circumstances. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 02/23/01 66 FR 11229 Interim Final Rule Comment Period End 04/24/01 Final Action 08/03/01 66 FR 40574 Final Action Effective 09/04/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Chrisanthy J. Loizos, Staff Attorney, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6567 Fax: 703 518-6569 Email: cloizos@ncua.gov RIN: 3133-;AC44 _______________________________________________________________________ 4531. CREDIT UNION SERVICE ORGANIZATIONS (CUSOS) Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1756; 12 USC 1757(5)(D) and (7)(I); 12 USC 1766; 12 USC 1782; 12 USC 1784; ... CFR Citation: 12 CFR 712 Legal Deadline: None Abstract: The final rule clarifies that the list of permissible activities in the CUSO rule is intended to establish broad categories of permissible activities and that the listings under these categories are illustrative not exhaustive. The final rule also adds a federally chartered corporation to the list of permissible structures for a CUSO. [[Page 62723]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/22/01 66 FR 11125 NPRM Comment Period End 04/23/01 Final Action 08/03/01 66 FR 40575 Final Action Effective 09/04/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Mary F. Rupp, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6540 Email: maryr@ncua.gov RIN: 3133-;AC45 _______________________________________________________________________ 4532. COMMUNITY DEVELOPMENT REVOLVING LOAN PROGRAM FOR CREDIT UNIONS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1772C-1; 42 USC 9822 CFR Citation: 12 CFR 705 Legal Deadline: None Abstract: The NCUA revised its regulations pertaining to the Community Development Revolving Loan Program for Credit Unions (CDRLP) to make more flexible the manner in which NCUA may deliver technical assistance to participating credit unions. This revision reflects the board authority granted to NCUA by the Federal Credit Union Act (Act) in this context. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/21/00 65 FR 80298 Interim Final Rule Comment Period End 02/20/01 Final Action 04/26/01 66 FR 20901 Final Action Effective 04/26/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Frank S. Kressman, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6558 Fax: 703 518-6569 Email: fkressman@ncua.gov RIN: 3133-;AC47 _______________________________________________________________________ 4533. INTERPRETIVE RULING AND POLICY STATEMENT (IRPS-01-2) CENTRAL LIQUIDITY FACILITY ADVANCE POLICY Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1795 to 1795F CFR Citation: 12 CFR 725 Legal Deadline: None Abstract: The policy statement is intended to clarify the role of the Central Liquidity Facility (CLF) and the circumstances when the CLF will approve a regulator or agent member's request for a CLF advance. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/25/00 65 FR 63892 NPRM Comment Period End 01/23/01 Final Action 04/26/01 66 FR 21019 Final Action Effective 05/29/01 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Frank S. Kressman, Staff Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6558 Fax: 703 518-6569 Email: fkressman@ncua.gov RIN: 3133-;AC48