<DOC>
[May 27, 2003 (Volume 68, Number 101)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]

[Page 31406-31412]


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Part LIX





National Credit Union Administration





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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: maryr@ncua.gov

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: cloizos@ncua.gov

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: ppeterson@ncua.gov

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: johni@ncua.gov

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: fkressman@ncua.gov

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: cloizos@ncua.gov

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: maryr@ncua.gov

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: dsalva@ncua.gov

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: dsalva@ncua.gov

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: mmckenna@ncua.gov

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: fkressman@ncua.gov

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: rmetz@ncua.gov

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: fkressman@ncua.gov

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: fkressman@ncua.gov

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: dsalva@ncua.gov

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: ppeterson@ncua.gov

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: ppeterson@ncua.gov

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: widerman@ncua.gov

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: rmetz@ncua.gov

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: dsalva@ncua.gov

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: maryr@ncua.gov

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: maryr@ncua.gov

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: widerman@ncua.gov

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: mmckenna@ncua.gov

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: mmckenna@ncua.gov

RIN: 3133-AC70
[FR Doc. 03-8003 Filed 05-23-03; 8:45 am]
BILLING CODE 7535-01-S