[Federal Register Volume 65, Number 179 (Thursday, September 14, 2000)]
[Rules and Regulations]
[Page 55439]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-23465]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 702


Prompt Corrective Action; Correction

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final Rule; corrections.

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SUMMARY: Four technical errors appear in the part 702 final rule 
implementing a system of prompt corrective action for federally-insured 
credit unions. The first and second errors appear in the Federal 
Register of February 18, 2000, in a footnote to the supplementary 
information section and in the provision of subpart A entitled ``Net 
worth measures,'' respectively. The third and fourth errors appear in 
the Federal Register of July 20, 2000, in the supplementary information 
section entitled ``Impact of Final Rule'' and in the instruction to 
amend the provision of subpart C entitled ``Net worth categories,'' 
respectively. This final rule corrects these errors and makes no 
substantive change to part 702.

DATES: Effective January 1, 2001.

FOR FURTHER INFORMATION CONTACT: Steven W. Widerman, Trial Attorney, 
Office of General Counsel, telephone 703/518-6557, National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428.

SUPPLEMENTARY INFORMATION:

    In the final rule document 00-3276, published on February 18, 2000 
(65 FR 8560), the following corrections are made:
    1. On page 8575, third column, footnote 19, remove from the second 
sentence the words ``or liquidation'' and the citation 
``1787(a)(1)(b)''.


Sec. 702.101  [Amended]

    2. On page 8585, first column, Sec. 702.101(a)(2), add the words 
``If determined to be applicable under Sec. 702.103, a'' in paragraph 
(a)(2) in place of the words ``If defined as `complex' under 
Sec. 702.104, the applicable.''

    In the final rule document 00-18278, published on July 20, 2000 (65 
FR 44950), the following corrections are made:
    1. On page 44964, second column, second full sentence following the 
heading ``E. Impact of Final Rule,'' add ``.008 percent'' in place of 
``2.3 percent'', and add ``.0011 percent'' in place of ``.08 percent''.

    2. Correct amendatory instruction 8 on page 44974 to read as 
follows: 8. Section 702.302 is amended by removing the phrase ``and any 
risk-based net worth requirement applicable to a new credit union 
defined as `complex' under Secs. 702.103 through 702.106'' from 
paragraph (a); by removing the phrase ``and also meets any applicable 
risk-based net worth requirement under Secs. 702.105 and 702.106'' from 
paragraphs (c)(1) and (c)(2); and by removing the phrase ``or fails to 
meet any applicable risk-based net worth requirement under 
Secs. 702.105 and 702.106'' from paragraph (c)(3).

    By the National Credit Union Administration Board on September 
5, 2000.
Becky Baker,
Secretary of the Board.
[FR Doc. 00-23465 Filed 9-13-00; 8:45 am]
BILLING CODE 7535-01-U