[Federal Register Volume 79, Number 44 (Thursday, March 6, 2014)]
[Rules and Regulations]
[Pages 12657-12658]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-04918]



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  Federal Register / Vol. 79, No. 44 / Thursday, March 6, 2014 / Rules 
and Regulations  

[[Page 12657]]



NATIONAL CREDIT UNION ADMINISTRATION

5 CFR Part 9601 and 12 CFR Part 750


Technical corrections

AGENCY: National Credit Union Administration (NCUA).

ACTION: Technical corrections.

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SUMMARY: NCUA is making minor technical corrections to its 
supplementary ethics regulation to correct certain statutory references 
and to its regulation governing golden parachute and indemnification 
payments to conform certain internal cross citations affected by two 
recently revised final regulations.

DATES: These corrections are effective on March 6, 2014.

FOR FURTHER INFORMATION CONTACT: For part 9601: Hattie Ulan, Senior 
Ethics Counsel, Office of General Counsel, (703) 518-6544; and for part 
750: John H. Brolin, Staff Attorney, Office of General, (703) 518-6438, 
both at National Credit Union Administration, 1775 Duke Street, 
Alexandria, Virginia 22314.

SUPPLEMENTARY INFORMATION:

I. Background
II. Technical Corrections
III. Regulatory Procedures

I. Background

Why is NCUA issuing these corrections?

    On April 17, 2013, NCUA published its final supplemental ethics 
rule concerning approval of outside employment and activities.\1\ The 
ethics rule only applies to NCUA employees. It does not affect credit 
unions. The ethics rule as published inadvertently made a few incorrect 
references to the Federal Credit Union Act in Sec.  9601.104. This 
document corrects those references.
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    \1\ 74 FR 22767 (April 17, 2013).
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    On January 18, 2013 and May 31, 2013, NCUA published final rules 
amending various parts of NCUA's regulations.\2\ Some of these 
amendments renumbered sections and paragraphs of these regulations, 
which affected certain internal cross citations in part 750 of NCUA's 
regulations causing them to be incorrect. This document corrects those 
internal cross citations.
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    \2\ 78 FR 4029 (Jan. 18, 2013) and 78 FR 32545 (May 31, 2013).
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II. Technical Corrections

5 CFR 9601.104--Ethics

    This document corrects 5 CFR 9601.104(a)(1), (a)(2) and (b)(1) of 5 
CFR part 9601 by deleting the phrase ``of the Act'' from those 
paragraphs. 5 CFR part 9601 should not reference an ``Act,'' but rather 
should reference other paragraphs of part 9601. The phrase ``of the 
Act'' confuses the references and should be deleted.

12 CFR Part 750--Golden Parachute and Indemnification Payments

    This document amends 12 CFR 750.1, 750.4, 750.5, and 750.6 to 
correct internal cross citations that were affected when a duplicative 
definition of the term ``Act'' was removed from 12 CFR Sec.  750.1(a) 
and the remaining definitions in that section were renumbered as part 
of a technical amendments final rule.\3\ In addition, this document 
amends 12 CFR 750.4(a)(4)(ii) to correct an internal cross citation to 
Sec.  750.1(l). The definition of ``troubled condition'' formerly 
appearing in 12 CFR 750.1(l) was removed and replaced in 12 CFR 700.2 
as part of NCUA's final rule regarding the definition of troubled 
condition.\4\
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    \3\ 78 FR 32545 (May 31, 2013).
    \4\ 78 FR 4029 (Jan. 18, 2013).
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    All of these changes to 5 CFR Part 9601 and 12 CFR Part 750 correct 
errors that are obvious in form and technical in nature. NCUA intends 
no substantive change to its regulations by making these corrections.

III. Regulatory Procedures

Effective Date

    Generally, the Administrative Procedure Act (APA) requires a 
federal agency to provide the public with notice and the opportunity to 
comment on agency rulemakings. The corrections discussed herein are 
non-substantive and technical and are exempt from APA notice and 
comment requirements.\5\ The APA permits an agency to forego the notice 
and comment period under certain circumstances, such as when an action 
is technical and non-substantive. NCUA finds good cause that notice and 
public comments are unnecessary under section 553(b)(3)(B) of the 
APA.\6\ NCUA also finds good cause to dispense with the 30-day delayed 
effective date requirement under section 553(d)(3) of the APA.\7\ These 
corrections, therefore, will be effective immediately upon publication.
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    \5\ 5 U.S.C. 553(a)(2) and 553(b)(3)(B).
    \6\ 5 U.S.C. 553(b)(3)(B).
    \7\ 5 U.S.C. 553(d)(3).
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List of Subjects

5 CFR Part 9601

    Conflicts of interests, Government employees.

12 CFR Part 750

    Credit unions, Golden parachute payments, Indemnity payments.

    By the National Credit Union Administration Board on February 
27, 2014.
Gerald Poliquin,
Secretary of the Board.

    For the reasons stated above, NCUA amends 5 CFR Part 9601 and 12 
CFR Part 750 as follows:

Title 5--Administrative Personnel

PART 9601--SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES 
OF THE NATIONAL CREDIT UNION ADMINISTRATION

0
1. The authority citation for part 9601 continues to read as follows:

    Authority:  12 U.S.C. 1752a(d), 1766; 5 U.S.C. 7301; 5 U.S.C. 
App. (Ethics in Government Act of 1978); E.O. 12674, 54 FR 15159, 3 
CFR, 1989 Comp., p. 215, as modified by E.O. 12731, 55 FR 42547, 3 
CFR, 1990 Comp., p. 306; 5 CFR 2635.105, 5 CFR 2635.403, 5 CFR 
2635.502 and 5 CFR 2635.803.


Sec.  9601.104  [Amended]

0
2. Amend Sec.  9601.104 as follows:
0
a. In paragraph (a)(1), remove ``section 103 of the Act'' and add in 
its place ``Sec.  9601.103''; and remove ``section 105 of the Act'' and 
add in its place ``Sec.  9601.105''.

[[Page 12658]]

0
b. In paragraph (a)(2), remove ``section 103 of the Act'' and add in 
its place ``Sec.  9601.103''.
0
c. In paragraph (b)(1), remove ``section 102 of the Act'' and add in 
its place ``Sec.  9601.102''.

Title 12--Banks and Banking

PART 750--GOLDEN PARACHUTE AND INDEMNIFICATION PAYMENTS

0
3. The authority citation for part 750 continues to read as follows:

    Authority:  12 U.S.C. 1786(t).

Sec.  750.1  [Amended]

0
4. Amend Sec.  750.1 as follows:
0
a. In paragraph (a), remove ``paragraph (c) or (i), respectively, of 
this section'' and add in its place ``paragraph (b) or (h), 
respectively, of this section''.
0
b. In paragraph (b)(2) introductory text, remove ``paragraph (c)(1) of 
this section'' and add in its place ``paragraph (b)(1) of this 
section''.
0
c. In paragraph (b)(2)(ii), remove ``paragraph (e)(2)(v) of this 
section'' and add in its place ``paragraph (d)(2)(v) of this section''.
0
d. In paragraph (b)(3) introductory text, remove ``paragraphs (c)(1) 
and (2) of this section'' and add in its place ``paragraphs (b)(1) and 
(2) of this section''.
0
e. In paragraph (b)(3)(i), remove ``paragraph (e)(1)(ii) of this 
section'' and add in its place ``paragraph (d)(1)(ii) of this 
section''.
0
f. In paragraph (b)(3)(ii), remove ``paragraph (e)(1)(ii) of this 
section'' and add in its place ``paragraph (d)(1)(ii) of this 
section''.
0
g. In paragraph (b)(3)(v), remove ``paragraph (e)(1)(ii) of this 
section'' and add in its place ``paragraph (d)(1)(ii) of this 
section''.
0
h. In paragraph (d)(1)(ii)(C), remove ``Sec.  700.2(j)'' and add in its 
place ``Sec.  700.2''.
0
i. In paragraph (d)(1)(iii), remove ``paragraphs (e)(1)(ii)(A) through 
(E) of this section'' and add in its place ``paragraphs (d)(1)(ii)(A) 
through (E) of this section''.
0
j. In paragraph (d)(2)(ii), remove ``paragraph (b) of this section'' 
and add in its place ``paragraph (a) of this section''.
0
k. In paragraph (d)(2)(iii), remove ``paragraph (c) of this section'' 
and add in its place ``paragraph (b) of this section''.
0
l. In paragraph (d)(2)(v), remove ``paragraph (e)(1)(ii) of this 
section'' and add in its place ``paragraph (d)(1)(ii) of this 
section''.


Sec.  750.4  [Amended]

0
5. In Sec.  750.4, amend paragraph (a)(2) by removing ``Sec.  
750.1(e)(1)(ii)'' and adding in its place ``Sec.  750.1(d)(1)(ii)'', 
and amend paragraph (a)(4)(ii) by removing ``Sec.  750.1(1)'' and 
adding in its place ``Sec.  700.2 of this chapter''.


Sec.  750.5  [Amended]

0
6. Amend Sec.  750.5 as follows:
0
a. In paragraph (a)(2)(ii), remove ``Sec.  750.1(k)(2)(i)'' and add in 
its place ``Sec.  750.1(j)(2)(i)'', and remove ``Sec.  750.1(k)'' and 
add in its place ``Sec.  750.1(j)''.
0
b. In paragraph (a)(3), remove ``Sec.  750.1(k)'' and add in its place 
``Sec.  750.1(j)''.


Sec.  750.6  [Amended]

0
7. In Sec.  750.6, amend paragraph (a) by removing ``Sec.  
750.1(e)(2)(v)'' and adding in its place ``Sec.  750.1(d)(2)(v)''.

[FR Doc. 2014-04918 Filed 3-5-14; 8:45 am]
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