[Federal Register Volume 62, Number 238 (Thursday, December 11, 1997)]
[Rules and Regulations]
[Page 65197]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-32326]



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  Federal Register / Vol. 62, No. 238 / Thursday, December 11, 1997 / 
Rules and Regulations  

[[Page 65197]]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 790


Description of NCUA; Requests for Agency Action

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule.

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SUMMARY: The NCUA Board amends its rules to state that the Executive 
Director and the General Counsel report to the NCUA Board. The purpose 
of the rule is to enhance the organization and operations of NCUA.

DATES: Effective on December 11, 1997.

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

FOR FURTHER INFORMATION CONTACT: Robert M. Fenner, General Counsel, 
Office of the General Counsel, at the above address or telephone 
(703)518-6540. E-mail questions may be sent to [email protected].

SUPPLEMENTARY INFORMATION: Part 790 of NCUA Rules and Regulations, 12 
CFR Part 790, describes the organization of NCUA's central and regional 
offices, and sets forth the places and method of obtaining information 
from NCUA. Prior to this amendment, Sec. 790.2(b)(7) and 
Sec. 790.2(b)(8) did not state specifically to whom the Executive 
Director and the General Counsel report. Accordingly, the above 
sections are amended to provide that the Executive Director and the 
General Counsel report to the NCUA Board.

Immediate Effective Date

    Because these amendments concern the organization of NCUA, prior 
notice and comment are not required by 5 U.S.C. 553. These amendments 
are effective upon publication in the Federal Register.

Regulatory Procedures

Regulatory Flexibility Act

    NCUA certifies that part 790 will not have a significant impact on 
a substantial number of small credit unions. Accordingly, a regulatory 
flexibility analysis is not required. The rule affects internal NCUA 
operations only. Thus, it will not result in any additional burden for 
regulated institutions. The purpose of the rule is to enhance the 
organization and operations of NCUA.

Paperwork Reduction Act

    The amendments to the rule do not contain any collection of 
information requirements pursuant to the Paperwork Reduction Act of 
1995 and regulations of the Office of Management and Budget.

Executive Order 12612

    Part 790 only applies to NCUA and the NCUA Board. Accordingly, NCUA 
has determined that the rule will not have a substantial impact on the 
states or state interests. Further, the rule will not preempt 
provisions of state law or regulations.

List of Subjects in 12 CFR Part 790

    Organization and functions (Government agencies).

    By the National Credit Union Administration Board on December 2, 
1997.
Becky Baker,
Secretary to the Board.

    Accordingly, NCUA amends 12 CFR part 790 as follows:

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

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

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

    2. Section 790.2 is amended by adding a new sentence before the 
existing first sentence of paragraphs (b)(7) and (b)(8) to read as 
follows:


Sec. 790.2  Central and regional office organization.

* * * * *
    (b) * * *
    (7) Office of the Executive Director. The Executive Director 
reports to the entire NCUA Board. * * *
    (8) Office of the General Counsel. The General Counsel reports to 
the entire NCUA Board. * * *
* * * * *
[FR Doc. 97-32326 Filed 12-10-97; 8:45 am]
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