[Unified Agenda of Federal Regulatory and Deregulatory Actions]
[National Credit Union Administration Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]


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Part LVII





National Credit Union Administration





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Semiannual Regulatory Agenda

[[Page 34198]]



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 15, 2002, to 
be included in the Unified Agenda of Federal Regulatory and 
Deregulatory Actions.

DATES: This information is current as of February 15, 2002.

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 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 three 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 13, 2002.

 Becky Baker,

Secretary of the Board.

                            National Credit Union Administration--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3927        Corporate Credit Unions.............................................................     3133-AC28
3928        Requirements for Insurance..........................................................     3133-AC33
3929        Credit Practices....................................................................     3133-AC34
3930        Investment and Deposit Activities...................................................     3133-AC49
3931        Consumer Protections for Federally Insured Credit Unions' Sale of Nondeposit             3133-AC56
            Investments.........................................................................
3932        Nondiscrimination in Federally Assisted Programs....................................     3133-AC59
3933        Prompt Corrective Action............................................................     3133-AC60
3934        Share Insurance and Appendix........................................................     3133-AC65
3935        Advertising.........................................................................     3133-AC67
----------------------------------------------------------------------------------------------------------------


                             National Credit Union Administration--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3936        OMB Control Numbers.................................................................     3133-AC52
3937        Truth in Savings....................................................................     3133-AC57
3938        Federal Credit Union Chartering, Field of Membership Modification and Conversions...     3133-AC63
3939        Organization and Operations of Federal Credit Unions -- Benefits for Employees of        3133-AC64
            Federal Credit Unions...............................................................
3940        Federal Credit Union Chartering, Field of Membership Modifications, and Conversions.     3133-AC66
----------------------------------------------------------------------------------------------------------------


                             National Credit Union Administration--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3941        Eligible Obligations -- Conflict of Interest Provision..............................     3133-AC51
3942        Bank Secrecy Act Compliance Programs and Procedures.................................     3133-AC62
----------------------------------------------------------------------------------------------------------------


[[Page 34199]]


                             National Credit Union Administration--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3943        Regulatory Flexibility and Exemption Program........................................     3133-AC38
3944        Requirements for Insurance..........................................................     3133-AC46
3945        Definitions and Technical Amendments................................................     3133-AC53
3946        Reimbursement, Insurance, and Indemnification of Officials and Employees............     3133-AC54
3947        Loan Interest Rates.................................................................     3133-AC61
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


National Credit Union Administration (NCUA)         Proposed Rule Stage


  



_______________________________________________________________________




3927. CORPORATE CREDIT UNIONS

Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

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 requested public comment on revisions to the rule 
governing corporate credit unions. As part of its regulatory review 
process, NCUA has identified provisions for further clarification or 
revision. Comments on these issues will assist NCUA in its regulatory 
review process.

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                     06/00/02

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: [email protected]

RIN: 3133-AC28
_______________________________________________________________________




3928. 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 solicited public comment on whether NCUA should adopt a 
regulation that would restrict the insurance coverage for state-
chartered credit unions that open branches outside the United States.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           09/14/00                    65 FR 55464
ANPRM Comment Period End        11/13/00
NPRM                            06/00/02

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: [email protected]

RIN: 3133-AC33
_______________________________________________________________________




3929. 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                     07/00/02

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
Email: [email protected]

RIN: 3133-AC34
_______________________________________________________________________




3930. 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: The advanced notice of proposed rulemaking solicited comments 
on how to update and clarify NCUA's investment and deposit activities 
rules.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           10/26/01                    66 FR 54168

[[Page 34200]]

ANPRM Comment Period End        01/24/02
NPRM                            12/00/02

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: [email protected]

RIN: 3133-AC49
_______________________________________________________________________




3931. 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 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

________________________________________________________________________

NPRM                            06/00/02

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: [email protected]

RIN: 3133-AC56
_______________________________________________________________________




3932. 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: Not Yet Determined

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                            12/00/02

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Paul M. Peterson, Staff Attorney, National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314-3428
Phone: 703 518-6555
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC59
_______________________________________________________________________




3933.  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

________________________________________________________________________

NPRM                            05/00/02
Final Action                    11/00/02
Final Action Effective          01/00/03

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: [email protected]

RIN: 3133-AC60
_______________________________________________________________________




3934.  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                            07/00/02

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: [email protected]

RIN: 3133-AC65
_______________________________________________________________________




3935.  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                            07/00/02

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: [email protected]

RIN: 3133-AC67

[[Page 34201]]

_______________________________________________________________________


National Credit Union Administration (NCUA)            Final Rule Stage


  



_______________________________________________________________________




3936. 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                    05/00/02

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: [email protected]

RIN: 3133-AC52
_______________________________________________________________________




3937. 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                    12/00/02

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: [email protected]

RIN: 3133-AC57
_______________________________________________________________________




3938.  FEDERAL CREDIT UNION CHARTERING, FIELD OF MEMBERSHIP 
MODIFICATION AND CONVERSIONS

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 701.1

Legal Deadline: None

Abstract: The NCUA Board amended its chartering and field of membership 
manual to make two changes to ease the burden on applicants for 
community charters, expansions or conversions. First, applicants need 
not submit documentation to establish a community area that is the same 
as one the NCUA has previously determined to be a well-defined local 
community, neighborhood or rural district. Second, the NCUA Board 
deleted the category of common characteristics and background of 
residents from the examples of acceptable documentation because it has 
proven to generate documentation of limited relevance.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              03/20/01                    66 FR 15619
Final Action                    06/00/02

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: [email protected]

RIN: 3133-AC63
_______________________________________________________________________




3939.  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
Final Action                    06/00/02

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: [email protected]

RIN: 3133-AC64
_______________________________________________________________________




3940.  FEDERAL CREDIT UNION CHARTERING, FIELD OF MEMBERSHIP 
MODIFICATIONS, AND CONVERSIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1756; 12 USC 1757; 12 
USC 1759; 12 USC 1761a-b; ...

CFR Citation: 12 CFR 701.1

Legal Deadline: None

Abstract: An existing community charter need not document in writing 
how it plans on serving the entire community. The NCUA Board updated 
the definition of an investment area because of the release of the new 
census data and updated Community Development Financial Institution 
Fund standards.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              12/20/01                    66 FR 65625
Interim Final Rule Effective    12/20/01
Final Action                    06/00/02

Regulatory Flexibility Analysis Required: No

[[Page 34202]]

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: [email protected]

RIN: 3133-AC66
_______________________________________________________________________


National Credit Union Administration (NCUA)           Long-Term Actions


  



_______________________________________________________________________




3941. ELIGIBLE OBLIGATIONS -- CONFLICT OF INTEREST PROVISION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 12 USC 1759; 12 
USC 1761a

CFR Citation: 12 CFR 701.23

Legal Deadline: None

Abstract: Section 701.23 sets forth the requirements for purchasing, 
selling, and pledging eligible obligations (loans) by Federal credit 
unions. NCUA plans to propose a conflict of interest provision for this 
section, similar to section 701.21(c)(8)(i) of the lending rule.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                             To Be                       Determined

Regulatory Flexibility Analysis Required: Undetermined

Small Entities Affected: No

Government Levels Affected: None

Federalism:  Undetermined

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: [email protected]

RIN: 3133-AC51
_______________________________________________________________________




3942.  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. Patriot's Act, P. L. 
107-56, October 26, 2001.

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: John K. Ianno, 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: [email protected]

RIN: 3133-AC62
_______________________________________________________________________


National Credit Union Administration (NCUA)           Completed Actions


  



_______________________________________________________________________




3943. REGULATORY FLEXIBILITY AND EXEMPTION PROGRAM

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757; 12 USC 1756; 12 USC 1766

CFR Citation: 12 CFR 742

Legal Deadline: None

Abstract: This final rule permits credit unions with advanced levels of 
net worth and consistently strong supervisory examination ratings to be 
exempt, in whole or in part, from certain NCUA regulations. Also, the 
Board issued a final amendment to the appraisal regulation to increase 
the dollar threshold from $100,000 to $250,000 for which an appraisal 
is required. This final rule and final amendment will reduce regulatory 
burden.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           03/22/00                    65 FR 15275
ANPRM Comment Period End        05/22/00
NPRM                            03/15/01                    66 FR 15055
NPRM Comment Period End         05/14/01
Final Action                    11/23/01                    66 FR 58656
Final Rule Effective            03/01/02

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: [email protected]

RIN: 3133-AC38
_______________________________________________________________________




3944. REQUIREMENTS FOR INSURANCE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757; 12 USC 1766; 12 USC 1781 to 1790

CFR Citation: 12 CFR 741

Legal Deadline: None

Abstract: Currently, only credit unions with over $50,000,000 in assets 
file quarterly call reports. NCUA is considering moving to a risk-
based, flexible schedule examination program. This proposal requested 
comments on whether, as a condition of implementation of that program, 
all credit unions should file quarterly call reports.

[[Page 34203]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/03/01                    66 FR 40642
NPRM Comment Period End         11/01/01
Final Action                    03/19/02                    67 FR 12459

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: [email protected]

RIN: 3133-AC46
_______________________________________________________________________




3945. DEFINITIONS AND TECHNICAL AMENDMENTS

Priority: Info./Admin./Other

Legal Authority: 12 USC 1752; 12 USC 1755 to 1757; 12 USC 1759; 12 USC 
1761; 12 USC 1766 to 1767; ...

CFR Citation: 12 CFR 700; 12 CFR 701; 12 CFR 712; 12 CFR 723; 12 CFR 
725; ...

Legal Deadline: None

Abstract: NCUA amended various rules to make technical corrections and 
revise certain definitions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/21/01                    66 FR 33211
NPRM Comment Period End         08/20/01
Final Action                    12/20/01                    66 FR 65622
Final Action Effective          01/22/02

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: [email protected]

RIN: 3133-AC53
_______________________________________________________________________




3946. REIMBURSEMENT, INSURANCE, AND INDEMNIFICATION OF OFFICIALS AND 
EMPLOYEES

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 12 USC 1761a-b; 
12 USC 1766 to 1767; 12 USC 1782; ...

CFR Citation: 12 CFR 701.33

Legal Deadline: None

Abstract: Revised regulation to clarify, streamline and update recent 
interpretations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/03/01                    66 FR 40641
NPRM Comment Period End         10/03/01
Final Action                    12/20/01                    66 FR 65628
Final Action Effective          01/22/02

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: [email protected]

RIN: 3133-AC54
_______________________________________________________________________




3947.  LOAN INTEREST RATES

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 12 USC 1759; 12 
USC 1761a; 12 USC 1766 to 1767; ...

CFR Citation: None

Legal Deadline: None

Abstract: The NCUA Board continued the 18 percent Federal credit union 
loan rate ceiling for the period March 8, 2002, through September 8, 
2003.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    02/15/02                     67 FR 7057
Final Action Effective          03/08/02

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: [email protected]

RIN: 3133-AC61
[FR Doc. 02-7701 Filed 05-10-02; 8:45 am]
BILLING CODE 7535-01-S
