[Federal Register Volume 59, Number 135 (Friday, July 15, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-17161]


[[Page Unknown]]

[Federal Register: July 15, 1994]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Parts 701, 709, 745, 747, 790, 791, 792, 793 and 794

 

Change of Addresses and Redesignation of Offices

AGENCY: National Credit Union Administration (``NCUA'').

ACTION: Final rule.

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SUMMARY: NCUA moved the location of its central office from Washington, 
DC to Alexandria, VA in September, 1993. This document updates various 
sections of NCUA's Rules and Regulations to reflect the agency's 
current address. Several additional changes are made. First, a 
correction to a referenced subpart in the regulations is made. Second, 
NCUA's Administrative Office was renamed the Office of Administration 
several years ago. References to the Administrative Office are changed 
to the Office of Administration. Third, in 1990 NCUA switched from the 
government wide GS pay system to its own CU (credit union) system. 
References to GS pay are changed to CU pay. Fourth, in February, 1994, 
NCUA established two new offices, the Office of Community Development 
Credit Unions and the Office of Chief Economist and Policy Analysis, 
and placed the Central Liquidity Facility within the Office of 
Examination and Insurance. In addition, in May, 1994, the Office of 
Training and Development was established and certain functions were 
moved from one office to another as a result of streamlining studies 
done both by agency staff and an outside consulting firm. Descriptions 
of these changes as well as some minor changes in other office 
descriptions are made to the appropriate regulation.

EFFECTIVE DATE: July 15, 1994.

ADDRESSES: National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428.

FOR FURTHER INFORMATION CONTACT:
Hattie M. Ulan, Special Counsel to the General Counsel, at 703-518-
6540.

SUPPLEMENTARY INFORMATION: NCUA's central office location changed from 
1776 G Street, NW., Washington, DC 20456 to 1775 Duke Street, 
Alexandria, VA 22314-3428 in September, 1993. The change in address is 
made in parts 701, 709, 745, 747, 791, 792, 793 and 794 of NCUA's 
Regulations. In July of 1991, NCUA revised part 747 of the Regulations 
(see 56 FR 37828, 8/9/91). This part sets forth procedures for various 
administrative actions. Under the earlier version of part 747, subpart 
L (12 CFR Sec. 747.1201 et seq.) described the procedures for appeal of 
a notice of disapproval of a change in senior executive officers. These 
procedures are found in subpart J of the current version of part 747. 
Section 701.14(f) refers to the now nonexistent subpart L. A correction 
is made to this reference in Sec. 701.14(f). NCUA's Office of 
Administration was previously titled the Administrative Office. Parts 
792 and 794 contain several references to the Administrative Office. 
These have all been changed to the Office of Administration. Section 
792.5(b) contains several references to GS pay. In 1990, NCUA switched 
from the GS pay system to its own CU pay system. The references in 
Sec. 792.25(b) are changed from GS to CU.
    In February, 1994, the NCUA Board established two new offices, the 
Office of Community Development Credit Unions and the Office of the 
Chief Economist and Policy Analysis. The Board also placed the Central 
Liquidity Facility within the Office of Examination and Insurance. The 
Office of Community Development Credit Unions will administer the 
Community Development Revolving Loan Program. This Program is currently 
described in paragraph 790.2(e). Paragraph 790.2(e) is deleted and the 
information is moved to the new description of the Office of Community 
Development Credit Unions in new paragraph 790.2(b)(13). Description of 
the Office of the Chief Economist and Policy Analysis is found in new 
paragraph 790.2(b)(14). Some of the functions contained in the current 
description of the Office of Examination and Insurance will now be done 
by the Office of the Chief Economist and Policy Analysis. These 
functions have been deleted from the description of the Office of 
Examination and Insurance. The current description of the Central 
Liquidity Facility currently found in paragraph 790.2(d) goes into more 
detail than other office descriptions. Deletions and other 
modifications have been made and the CLF description is now part of the 
description of the Office of Examination and Insurance and appears as 
new paragraph 790.2(b)(6)(iii).
    In the early part of 1994, streamlining studies of the central 
office by both agency staff and an outside consulting firm were 
completed. In May, 1994, results of the streamlining studies were 
implemented. The Office of Training and Development was established and 
is described in new paragraph 790.2(b)(15). This new training office 
has taken over some of the functions of the Office of Human Resources. 
Appropriate changes have been made to the description of the Office of 
Human Resources found in paragraph 790.2(b)(9). The responsibility for 
initial Freedom of Information Act requests was moved from the Office 
of Administration to the Office of General Counsel. The resulting 
changes are made to paragraphs 790.2(b)(3), 790.2(b)(8), 792.2(f), and 
792.2(g) (1) and (2). A clarification is also made to the description 
of the NCUA Board in paragraph 790.2(b)(1).
    Since all of these changes are either housekeeping and do not have 
any substantive effect on credit unions or merely provide the 
description of offices, the Board finds it unnecessary to either issue 
a proposed rule or to have a delayed effective date. Therefore these 
changes are issued in final form and are effective upon publication.

Regulatory Procedures

Regulatory Flexibility Act

    The Regulatory Flexibility Act requires the NCUA to prepare an 
analysis to describe any significant economic impact any regulation may 
have on a substantial number of small credit unions (primarily those 
under $1 million in assets). The types of changes made by this rule 
have no economic impact on credit unions. These are merely housekeeping 
changes. Therefore, the NCUA Board has determined and certifies that, 
under the authority granted in 5 U.S.C. 605(b), this final rule will 
not have a significant economic impact on a substantial number of small 
credit unions. Accordingly, the Board has determined that a Regulatory 
Flexibility Analysis is not required.

Paperwork Reduction Act

    This final rule does not change any paperwork requirements.

Executive Order 12612

    Executive Order 12612 requires NCUA to consider the effect of its 
actions on state interests. Since these are housekeeping changes only, 
there is no effect on state interests.

List of Subjects

12 CFR Parts 701, 709, 745, 747, 790, 791, 793 and 794

    Credit unions.

    By the National Credit Union Administration Board on July 8, 
1994.
Hattie M. Ulan,
Acting Secretary of the Board.
    Accordingly, for the reasons set out in the preamble, 12 CFR Ch. 
VII is amended as set forth below.

PART 701--ORGANIZATION AND OPERATIONS OF FEDERAL CREDIT UNIONS

    1. The authority citation for part 701 continues to read as 
follows:

    Authority: 12 U.S.C. 1752(5), 1755, 1756, 1757, 1759, 1761a, 
1761b, 1766, 1767, 1782, 1784, 1787, 1789, and Public Law 101-73. 
Section 701.6 is also authorized by 31 U.S.C. 3717. Section 701.31 
is also authorized by 12 U.S.C. 1601, et seq., 42 U.S.C. 1981 and 42 
U.S.C. 3601-1610. Section 701.35 is also authorized by 12 U.S.C. 
4311-4312.

PART 709--INVOLUNTARY LIQUIDATION AND CREDITOR CLAIMS

    2. The authority citation for part 709 continues to read as 
follows:

    Authority: 12 U.S.C. 1766; Pub. L. 101-73; 103 Stat. 183, 530 
(1989) (12 U.S.C. 1787 et seq.).

PART 745--SHARE INSURANCE AND APPENDIX

    3. The authority citation for part 745 continues to read as 
follows:

    Authority: 12 U.S.C. 1766, 12 U.S.C. 1781, 12 U.S.C. 1789.

PART 747--ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, AND RULES 
OF PRACTICE AND PROCEDURE

    4. The authority citation for part 747 continues to read as 
follows:

    Authority: 12 U.S.C. 1766, 12 U.S.C. 1786, 12 U.S.C. 1784, 12 
U.S.C. 1787.

PART 790--DESCRIPTION OF NCUA; REQUESTS FOR AGENCY ACTION

    5. The authority citation for part 790 is revised to read as 
follows:

    Authority: 12 U.S.C. 1766, 12 U.S.C. 1789, 12 U.S.C. 1795f.

PART 791--RULES OF NCUA BOARD PROCEDURE; PROMULGATION OF NCUA RULES 
AND REGULATIONS; PUBLIC OBSERVATION OF NCUA BOARD MEETINGS

    6. The authority citation for part 791 continues to read as 
follows:

    Authority: 12 U.S.C. 1766, 1789 and 5 U.S.C. 552b.

PART 792--REQUESTS FOR INFORMATION UNDER THE FREEDOM OF INFORMATION 
ACT AND PRIVACY ACT, AND BY SUBPOENA; SECURITY PROCEDURES FOR 
CLASSIFIED INFORMATION

    7. The authority citation for part 792 is revised to read as 
follows:

    Authority: 12 U.S.C. 1766, 12 U.S.C. 1789, 12 U.S.C. 1795f, 5 
U.S.C. 552, 5 U.S.C. 552a, Executive Orders 12600 and 12356.

PART 793--TORT CLAIMS AGAINST THE GOVERNMENT

    8. The authority citation for part 793 is revised to read as 
follows:

    Authority: 12 U.S.C. 1766.

PART 794--ENFORCEMENT OF NON-DISCRIMINATION ON THE BASIS OF 
HANDICAP IN PROGRAMS OR ACTIVITIES CONDUCTED BY THE NATIONAL CREDIT 
UNION ADMINISTRATION

    9. The authority citation for part 794 continues to read as 
follows:

    Authority: 12 U.S.C. 794.


Secs. 701.1, 701.2, 701.31, 747.306, 793.2  [Amended]

    10. Remove the address ``Washington, DC 20456'' and add, in its 
place, the address ``1775 Duke Street, Alexandria, VA 22314-3428'' in 
the following places:

(a) Sec. 701.1;
(b) Sec. 701.2(b);
(c) Sec. 701.2(c);
(d) Sec. 701.31(d)(3) (two times);
(e) Sec. 747.306(b);
(f) Sec. 793.2(c).

    11. Remove the address ``1776 G Street, NW., Washington, DC 20456'' 
and add, in its place the address ``1775 Duke Street, Alexandria, VA 
22314-3428'' in the following places:

(a) Sec. 709.8(c)(1);
(b) Sec. 709.9(b);
(c) Sec. 745.202(a);
(d) Sec. 747.609(d);
(e) Sec. 747.616;
(f) Sec. 791.8(c);
(g) Sec. 792.2(g)(1);
(h) Sec. 792.22(a);
(i) Sec. 792.26(a);
(j) Sec. 792.27(a);
(k) Sec. 792.27(c);
(l) Sec. 792.40.

    12. Remove the address ``1776 G Street NW., Room 7261, Washington, 
DC 20456'' and replace it with ``1775 Duke Street, Alexandria, VA 
22314-3428'' in Sec. 794.170(c).
    13. Section 701.14(f) is amended by revising the last sentence to 
read as follows:


Sec. 701.14  Change in official or senior executive officer in credit 
unions that are newly chartered or are in troubled condition.

* * * * *
    (f) * * * The Notice of Disapproval will advise the parties of 
their rights of appeal pursuant to 12 CFR part 747 subpart J, of NCUA's 
Regulations.
    14. Section 747.307(a) is amended by revising the first sentence to 
read as follows:


Sec. 747.307  Hearing.

    (a) Upon receipt of a request for a hearing which complies with 
Sec. 747.306, the NCUA Board will order an informal hearing to commence 
within the following 30 days in the Washington, DC metropolitan area or 
at such other place as the NCUA Board designates before a Presiding 
Officer designated by the NCUA Board to conduct the hearing. * * *
* * * * *
    15. Remove the title ``Administrative Office'' and replace it with 
``Office of Administration'' in the following places:

(a) Sec. 792.24(b)(3);
(b) Sec. 792.26(a);
(c) Sec. 792.37(a);
(d) Sec. 792.50(a);
(e) Sec. 794.170(c).

    16. Remove the letters ``GS'' and replace them with ``CU'' in 
Sec. 792.5(b)(1)(i), (b)(1)(ii), and (b)(2).
    17. Section 790.2 is amended by adding a new fourth sentence to 
paragraph (b)(1); by removing the phrase ``the Freedom of Information 
Act,'' from the second sentence of paragraph (b)(3); by redesignating 
the two paragraphs contained in paragraph (b)(6) as paragraphs (b)(6) 
(i) and (ii); by removing the phrase ``and economical reports and 
research papers on market trends affecting credit unions'' from the end 
of the first sentence of newly designated paragraph (b)(6)(i) and 
replacing it with the word ``reports''; by adding new paragraph 
(b)(6)(iii); by adding a new fourth sentence to paragraph (b)(8); by 
removing the word ``training,'' from the fourth sentence of paragraph 
(b)(9); by adding new paragraphs (b) (13), (14) and (15) and by 
removing paragraphs (d) and (e) to read as follows:


Sec. 790.2   Central and regional office organization.

* * * * *
    (b) * * *
    (1) * * * The Chairman shall be the spokesman for the Board and 
shall represent the Board and the NCUA in its official relations with 
other branches of the government. * * *
* * * * *
    (6) Office of Examination and Insurance. * * *
    (iii) NCUA Central Liquidity Facility (CLF). The CLF was created to 
improve general financial stability by providing funds to meet the 
liquidity needs of credit unions. It is a mixed-ownership Government 
corporation under the Government Corporation Control Act (31 U.S.C. 
9101, et seq.). The CLF is managed by the NCUA Board, which acts as the 
CLF Board of Directors. The Chairman of the NCUA Board is the Chairman 
of the CLF Board of Directors. The Secretary of the Board serves as the 
Secretary of the CLF.
* * * * *
    (8) * * * The Office has responsibility for processing Freedom of 
Information Act requests and appeals. * * *
* * * * *
    (13) Office of Community Development Credit Unions. This Office is 
responsible for coordinating NCUA policy as it relates to community 
development credit unions, including those credit unions designated as 
``low-income.'' The Office administers the Community Development 
Revolving Loan Program for Credit Unions (Program). This Program was 
funded from a congressional appropriation and serves as a loan and 
technical assistance vehicle for low-income credit unions. The Office 
Director serves as Program Chairman and authorizes loans and technical 
assistance to participating credit unions. The Program is governed by 
part 705 of subchapter A of this chapter.
    (14) Office of Chief Economist and Policy Development. The Office 
is responsible for developing and conducting research projects and 
analytical studies in support of NCUA programs, including the fields of 
cooperative thrift, credit, investments and the impact of the national 
economy on the credit union movement. The Office will make periodic 
reports on its activities for the information and use of agency staff, 
credit union officials, state credit union supervisory authorities, and 
other governmental and private groups. The Office also provides policy 
advice to the Board and senior agency staff.
    (15) Office of Training and Development. This Office provides a 
comprehensive program for the training and development of NCUA's staff. 
The Office is responsible for developing policy, consistent with the 
Government Employees Training Act, related to its training program; for 
providing training opportunities equitably so that all employees have 
the skills necessary to help meet the agency's mission; for evaluating 
the agency's training and development efforts; and for ensuring that 
the agency's training monies are spent in a cost efficient manner and 
in accordance with the law.
* * * * *
    18. Section 792.2 is amended by revising the second sentence of 
paragraph (f), the first sentence of paragraph (g)(1) and the last 
sentence of paragraph (g)(2) as follows:


Sec. 792.2   Information made available to the public and requests for 
such information.

* * * * *
    (f) Information centers. * * * The Freedom of Information Officer 
of the Office of General Counsel is responsible for the operations of 
the Information Center maintained at the Central Office. * * *
    (g) Methods of request.
    (1) Indices. Requests for indices should be made to NCUA, Office of 
General Counsel, 1775 Duke Street, Alexandria, VA 22314-3428. * * *
    (2) All other records. * * * When the location of requested records 
is not known, or it is known that such records are located in the 
Central Office, the request should be addressed to the Freedom of 
Information Officer of the Office of General Counsel at the address 
noted in paragraph (g)(1) of this section.
* * * * *
[FR Doc. 94-17161 Filed 7-14-94; 8:45 am]
BILLING CODE 7535-01-M