[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] ----------------------------------------------------------------------- Part LIX National Credit Union Administration ----------------------------------------------------------------------- Semiannual Regulatory Agenda [[Page 31406]]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 February 20, 2003, to be included in the Unified Agenda of Federal Regulatory and Deregulatory Actions. DATES: This information is current as of February 20, 2003. 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 to 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 3 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 March 20, 2003. Becky Baker, Secretary of the Board. National Credit Union Administration--Prerule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4079 Consumer Protections for Federally Insured Credit Unions' Sale of Nondeposit 3133-AC56 Investments......................................................................... ---------------------------------------------------------------------------------------------------------------- National Credit Union Administration--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4080 Credit Practices.................................................................... 3133-AC34 4081 Nondiscrimination in Federally Assisted Programs.................................... 3133-AC59 4082 Bank Secrecy Act Compliance Programs and Procedures................................. 3133-AC62 4083 Share Insurance and Appendix........................................................ 3133-AC65 4084 Member Business Loans............................................................... 3133-AC68 4085 Maximum Borrowing Authority......................................................... 3133-AC73 4086 Rules of NCUA Board Procedures; Promulgation of NCUA Rules and Regulations; Public 3133-AC75 Observation of NCUA Board Meetings.................................................. 4087 Requests for Information Under the Freedom of Information Act and Privacy Act and by 3133-AC76 Subpoena; Security Procedures for Classified Information............................ ---------------------------------------------------------------------------------------------------------------- National Credit Union Administration--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4088 Requirements for Insurance.......................................................... 3133-AC33 4089 Investment and Deposit Activities................................................... 3133-AC49 4090 OMB Control Numbers................................................................. 3133-AC52 4091 Truth in Savings.................................................................... 3133-AC57 4092 Organization and Operations of Federal Credit Unions--Benefits for Employees of 3133-AC64 Federal Credit Unions............................................................... 4093 Advertising......................................................................... 3133-AC67 4094 Revision of Interpretive Ruling and Policy Statement 87-2, Developing and Reviewing 3133-AC71 Government Regulations.............................................................. [[Page 31407]] 4095 Treatment of Swap Agreements in Liquidation or Conservatorship...................... 3133-AC72 4096 Prompt Corrective Action............................................................ 3133-AC74 4097 Description of NCUA; Request for Agency Action...................................... 3133-AC77 4098 Requests for Information Under the Freedom of Information Act and Privacy Act and by 3133-AC79 Subpoena, Subpart E................................................................. ---------------------------------------------------------------------------------------------------------------- National Credit Union Administration--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4099 Regulatory Publication and Review................................................... 3133-AC78 ---------------------------------------------------------------------------------------------------------------- National Credit Union Administration--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 4100 Corporate Credit Unions............................................................. 3133-AC28 4101 Prompt Corrective Action............................................................ 3133-AC60 4102 Federal Credit Union Chartering, Field of Membership Modifications and Conversions.. 3133-AC69 4103 Designation of Low-Income Status; Receipt of Secondary Capital Accounts by Low- 3133-AC70 Income-Designated Credit Unions..................................................... ---------------------------------------------------------------------------------------------------------------- _______________________________________________________________________ National Credit Union Administration (NCUA) Prerule Stage _______________________________________________________________________ 4079. 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 considering 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 ________________________________________________________________________ ANPRM 12/00/03 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: [email protected] RIN: 3133-AC56 _______________________________________________________________________ National Credit Union Administration (NCUA) Proposed Rule Stage _______________________________________________________________________ 4080. 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 issue a second proposal for comment. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/26/00 65 FR 64168 NPRM Comment Period End 12/26/00 Second NPRM 12/00/03 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 [[Page 31408]] Email: [email protected] RIN: 3133-AC34 _______________________________________________________________________ 4081. 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: 12 CFR 730 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 ________________________________________________________________________ NPRM 09/00/03 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Paul Marshall Peterson, Staff Attorney, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6540 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC59 _______________________________________________________________________ 4082. BANK SECRECY ACT COMPLIANCE PROGRAMS AND PROCEDURES Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1766(a); 12 USC 1786(q); 31 USC 5311; 31 USC 5318 CFR Citation: 12 CFR 748.2 Legal Deadline: None Abstract: The rule will be amended to clarify and cross-reference any changes to credit unions' responsibilities for Bank Secrecy Act compliance resulting from passage of the U.S.A. PATRIOTS Act, Public Law 107-56, October 26, 2001. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: John K. Ianno, Senior Trial Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428 Phone: 703 518-6540 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC62 _______________________________________________________________________ 4083. SHARE INSURANCE AND APPENDIX Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1752(5); 12 USC 1757; 12 USC 1765 to 1766; 12 USC 1781 to 1782; 12 USC 1787; ... CFR Citation: 12 CFR 745 Legal Deadline: None Abstract: Update NCUA's share insurance rules to bring them into closer parity with the Federal Deposit Insurance Corporation's deposit insurance rules. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/03 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: [email protected] RIN: 3133-AC65 _______________________________________________________________________ 4084. MEMBER BUSINESS LOANS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1757a CFR Citation: 12 CFR 723 Legal Deadline: None Abstract: NCUA intends to issue proposed amendments to its member business loan rule that will revise or clarify provisions regarding collateral requirements, aggregate loan limits, and other areas related to member business lending. NCUA also proposes to amend the prompt corrective action and credit union service organization rules as part of this rulemaking. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/03/03 68 FR 16450 NPRM Comment Period End 06/03/03 Final Action 07/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Federalism: Undetermined 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: [email protected] RIN: 3133-AC68 _______________________________________________________________________ 4085. [bull] MAXIMUM BORROWING AUTHORITY Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1757; 12 USC 1766; 12 USC 1781-90; 12 USC 1790d CFR Citation: 12 CFR 741.2 Legal Deadline: None Abstract: This provision limits borrowing for federally insured credit unions to 50 percent of paid-in and unimpaired capital and surplus. The limitation is statutory for Federal credit unions. NCUA proposes amending the regulation to permit federally insured, state-chartered credit unions to apply for a waiver from the borrowing limitations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/03 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: [email protected] RIN: 3133-AC73 [[Page 31409]] _______________________________________________________________________ 4086. [bull] RULES OF NCUA BOARD PROCEDURES; PROMULGATION OF NCUA RULES AND REGULATIONS; PUBLIC OBSERVATION OF NCUA BOARD MEETINGS Priority: Substantive, Nonsignificant Legal Authority: 5 USC 5526 CFR Citation: 12 CFR 791 Legal Deadline: None Abstract: Amendment to clarify use of notation voting and procedures for veto of notation voting. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC75 _______________________________________________________________________ 4087. [bull] REQUESTS FOR INFORMATION UNDER THE FREEDOM OF INFORMATION ACT AND PRIVACY ACT AND BY SUBPOENA; SECURITY PROCEDURES FOR CLASSIFIED INFORMATION Priority: Substantive, Nonsignificant Legal Authority: 5 USC 552 CFR Citation: 12 CFR 792 Legal Deadline: None Abstract: Amendment to inform requester of Freedom of Information search cut-off date. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC76 _______________________________________________________________________ National Credit Union Administration (NCUA) Final Rule Stage _______________________________________________________________________ 4088. 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 proposed a rule that requires a credit union to develop a business plan and receive foreign government approval before establishing a branch outside the United States. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 09/14/00 65 FR 55464 ANPRM Comment Period End 11/13/00 NPRM 09/26/02 67 FR 60607 NPRM Comment Period End 11/25/02 Final Action 05/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No 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: [email protected] RIN: 3133-AC33 _______________________________________________________________________ 4089. 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: This final rule updates and clarifies NCUA's investment and deposit activities rules, having taken into account comments solicited by a previously issued advance notice of proposed rulemaking and proposed rule. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 10/26/01 66 FR 54168 ANPRM Comment Period End 01/24/02 NPRM 12/27/02 67 FR 78996 NPRM Comment Period End 02/25/03 Final Action 06/00/03 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: [email protected] RIN: 3133-AC49 _______________________________________________________________________ 4090. OMB CONTROL NUMBERS Priority: Info./Admin./Other 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 06/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None [[Page 31410]] 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 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC52 _______________________________________________________________________ 4091. 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 amended 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 09/19/01 66 FR 48206 Final Action 12/00/03 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: [email protected] RIN: 3133-AC57 _______________________________________________________________________ 4092. ORGANIZATION AND OPERATIONS OF FEDERAL CREDIT UNIONS--BENEFITS FOR EMPLOYEES OF FEDERAL CREDIT UNIONS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 12 USC 1759; 12 USC 1761a-b; 12 USC 1766 to 1767; ... CFR Citation: 12 CFR 701.19 Legal Deadline: None Abstract: Clarify the scope of the rule permitting Federal credit unions to provide their employees with reasonable retirement and employee benefits. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/20/01 66 FR 65662 NPRM Comment Period End 02/19/02 Second NPRM 09/25/02 67 FR 60184 Second NPRM Comment Period End 12/26/02 Final Action 06/00/03 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: [email protected] RIN: 3133-AC64 _______________________________________________________________________ 4093. ADVERTISING Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1766; 12 USC 1781; 12 USC 1789; 12 USC 4311 CFR Citation: 12 CFR 740 Legal Deadline: None Abstract: Revise to address electronic advertising and transactions and to improve clarity. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/25/02 67 FR 60604 NPRM Comment Period End 11/25/02 Final Action 06/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC67 _______________________________________________________________________ 4094. REVISION OF INTERPRETIVE RULING AND POLICY STATEMENT 87-2, DEVELOPING AND REVIEWING GOVERNMENT REGULATIONS Priority: Info./Admin./Other Legal Authority: 5 USC 601 et seq; 12 USC 1752a CFR Citation: 12 CFR 791.8 Legal Deadline: None Abstract: Revision will amend the Interpretive Ruling and Policy Statement to update the definition of small credit union and provide for notice to the public of regulations up for NCUA review in the coming year. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/04/02 67 FR 72113 NPRM Comment Period End 02/03/03 Final Action 05/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Paul Marshall Peterson, Staff Attorney, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6540 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC71 _______________________________________________________________________ 4095. [bull] TREATMENT OF SWAP AGREEMENTS IN LIQUIDATION OR CONSERVATORSHIP Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1787(c)(8)(D)(i) CFR Citation: 12 CFR 709.13 Legal Deadline: None Abstract: The NCUA is proposing to amend its involuntary liquidation regulation to designate swap agreements as qualified final contracts (QFCs). Treatment of Swaps as QFCs will limit counterparty exposure when a federally insured credit union is placed into involuntary liquidation or a conservatorship and thereby encourage entities to engage in swaps with federally insured credit unions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/26/03 68 FR 8860 [[Page 31411]] NPRM Comment Period End 03/28/03 Final Action 07/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Paul Marshall Peterson, Staff Attorney, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6540 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC72 _______________________________________________________________________ 4096. [bull] PROMPT CORRECTIVE ACTION Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1790d CFR Citation: 12 CFR 702 Legal Deadline: None Abstract: Addition of simplified net worth restoration plan to system capital standards for federally insured credit unions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/29/02 67 FR 71113 NPRM Comment Period End 01/28/03 Final Action 06/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: State Federalism: Undetermined Agency Contact: Steven W. Widerman, Trial Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6557 Email: [email protected] RIN: 3133-AC74 _______________________________________________________________________ 4097. [bull] DESCRIPTION OF NCUA; REQUEST FOR AGENCY ACTION Priority: Info./Admin./Other Legal Authority: 12 USC 1766, 1789, 1795F CFR Citation: 12 CFR 790 Legal Deadline: None Abstract: Revise and update description of NCUA and request for agency action (including appeals provision); technical corrections. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 11/00/03 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 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC77 _______________________________________________________________________ 4098. [bull] REQUESTS FOR INFORMATION UNDER THE FREEDOM OF INFORMATION ACT AND PRIVACY ACT AND BY SUBPOENA, SUBPART E Priority: Info./Admin./Other Legal Authority: 5 USC 552a CFR Citation: None Legal Deadline: None Abstract: Addition of new Privacy Act systems of records to ensure building security and to monitor employees daily attendance and amendment of existing system of records to reflect maintenance of records of individual employee's entries and exists from a parking garage. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Notice 06/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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 Fax: 703 518-6569 Email: [email protected] RIN: 3133-AC79 _______________________________________________________________________ National Credit Union Administration (NCUA) Long-Term Actions _______________________________________________________________________ 4099. [bull] REGULATORY PUBLICATION AND REVIEW Priority: Substantive, Nonsignificant Legal Authority: 12 USC 3311 CFR Citation: Not Yet Determined Legal Deadline: Final, Statutory, September 6, 2003, Publication for review completed. Abstract: The financial institution regulators are required by section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to categorize all of the agencies' regulations by type and then issue a notice and request for comment for each of the categories. The notice must request comment on areas of the regulations that are outdated, unnecessary, or unduly burdensome. This must be done on a 10- year cycle. The first cycle ends in September 2006. Timetable: Next Action Undetermined 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: [email protected] RIN: 3133-AC78 [[Page 31412]] _______________________________________________________________________ National Credit Union Administration (NCUA) Completed Actions _______________________________________________________________________ 4100. CORPORATE CREDIT UNIONS Priority: Substantive, Nonsignificant 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 issued two proposed revisions to the rule governing corporate credit unions. Based on the comments, NCUA issued a final rule in the fall. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 07/28/99 64 FR 40787 ANPRM Comment Period End 11/26/99 Second ANPRM 11/22/00 65 FR 70319 Second ANPRM Comment Period End 02/20/01 NPRM 09/21/01 66 FR 48742 NPRM Comment Period End 12/20/01 Second NPRM 07/01/02 67 FR 44270 Second NPRM Comment Period End 08/30/02 Final Action 10/25/02 67 FR 65640 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: [email protected] RIN: 3133-AC28 _______________________________________________________________________ 4101. PROMPT CORRECTIVE ACTION Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1790d CFR Citation: 12 CFR 702 Legal Deadline: None Abstract: Revisions to NCUA system of minimum capital standards for federally insured credit unions and corresponding remedies to restore net worth. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 11/22/02 67 FR 71078 Final Action Effective 01/01/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: State Federalism: This action may have federalism implications as defined in EO 13132. Agency Contact: Steven W. Widerman, Trial Attorney, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314 Phone: 703 518-6557 Email: [email protected] RIN: 3133-AC60 _______________________________________________________________________ 4102. FEDERAL CREDIT UNION CHARTERING, FIELD OF MEMBERSHIP MODIFICATIONS AND CONVERSIONS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 12 USC 1759; 12 USC 1761a; ... CFR Citation: 12 CFR 701.1 Legal Deadline: None Abstract: NCUA revised its field of membership manual to ease regulatory burden and redefine certain terms. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/05/02 67 FR 72444 NPRM Comment Period End 02/03/03 Final Action 04/15/03 68 FR 18334 Final Action Effective 05/15/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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: [email protected] RIN: 3133-AC69 _______________________________________________________________________ 4103. DESIGNATION OF LOW-INCOME STATUS; RECEIPT OF SECONDARY CAPITAL ACCOUNTS BY LOW-INCOME-DESIGNATED CREDIT UNIONS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1757(6) CFR Citation: 12 CFR 701.34 Legal Deadline: None Abstract: NCUA is planning on updating the definition of what is a low- income credit union. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Withdrawn 02/21/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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: [email protected] RIN: 3133-AC70 [FR Doc. 03-8003 Filed 05-23-03; 8:45 am] BILLING CODE 7535-01-S