Special notice: Central Liquidity Facility investments

07/31/09: Central Liquidity Facility investment policy revisions. NCUA says the CLF on Aug. 3 is moving the funds it has invested in U.S. Central FCU - about $1.83 billion as of June 30 - and placing them in a laddered portfolio of investments. Reasons include preserving the facility's full borrowing capacity; and ensuring its continued role in stabilization and its ability to provide liquidity to credit unions without interruption. Accounting issues are at play.

• NCUA announcement, with full details HTML
• CLF monthly statements Web page

No Federal Register notices for credit unions today

No Federal Register notices for credit unions today

No notices for credit unions today

HUD proposed pilot program

07/28/09: Pilot Program for Automated Process for Borrowers Without Sufficient Credit History (Housing and Economic Recovery Act of 2008). Solicitation of comments on program design. Department of Housing and Urban Development.
Comments are due 09/28/09. PDF Text

FOMC policy statement June 23 - 24

07/27/09: Federal Open Market Committee; Domestic Policy Directive of June 23 - 24, 2009. Federal Reserve Board.
PDF Text

NCUA proposed rule on NCUSIF premium, 1 percent deposit

07/24/09: National Credit Union Share Insurance Fund Premium and One Percent Deposit. Proposed rule. NCUA.
Comments are due 08/24/09. PDF Text

OFAC blocked persons designation

07/24/09: Additional Designations, Foreign Narcotics Kingpin Designation Act. Notice. Office of Foreign Assets Control.
Effective 07/20/09. PDF Text

OFAC Iranian Transactions Regulations

07/23/09: Iranian Transactions Regulations. Final rule. Office of Foreign Assets Control.
Effective 07/23/09. PDF Text

Federal Reserve Board interim final rule, Credit CARD Act

07/22/09: Truth in Lending. Interim final rule; request for public comment. Federal Reserve Board.
Effective 08/20/09; comments are due 09/21/09. PDF Text

NCUA truth-in-savings final rule; overdraft fees

07/22/09: Truth in Savings. Final rule. NCUA.
Effective 01/01/10. PDF Text

NCUA revisions to temporary corporate liquidity guarantee program

07/22/09: Temporary Corporate Credit Union Liquidity Guarantee Program. Notice. NCUA.
Notice dated 07/16/09. PDF Text

NCUA final rule on credit union reporting

07/21/09: Credit Union Reporting. Final rule. NCUA.
Effective 09/01/09. PDF Text

Interagency Q&A on flood insurance

07/21/09: Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance. Notice and request for comment. NCUA, Federal Reserve, FDIC, Office of the Comptroller of the Currency, Office of Thrift Supervision, Farm Credit Administration.
Effective 09/21/09; comments are due 09/21/09. PDF Text

FinCEN requirements for non-bank residential mortgage lenders and originators

07/21/09: Anti-Money Laundering Program and Suspicious Activity Report Requirements for Non-Bank Residential Mortgage Lenders and Originators. Advance notice of proposed rulemaking. Financial Crimes Enforcement Network.
Comments are due 08/20/09. PDF Text

OFAC blocked persons designation

07/21/09: Additional Designation of Individuals Pursuant to Executive Order 13224. Notice. Office of Foreign Assets Control.
Effective 07/01/09. PDF Text

Federal Reserve Board open meeting agenda

07/20/09: Sunshine Act meeting. Notice. Federal Reserve Board.
Open meeting is 10:30 a.m. 07/23/09. PDF Text

Federal Reserve Board, check collection rule amendment

07/20/09: Availability of Funds and Collection of Checks. Final rule; technical amendment. Federal Reserve Board.
Effective 09/12/09. PDF Text

Special notice: NCUA Board actions

07/17/09: NCUA Board actions taken 07/16/09. The board released a proposed rule on share insurance fund premiums and capitalization assessments and approved final rules on truth in savings, credit union reporting and the federal credit union loan interest rate ceiling; the rate ceiling of 18 percent is extended to March 10, 2011. The board also took action on the corporate liquidity guarantee program, reprogrammed the agency budget and heard a report on the National Credit Union Share Insurance Fund.

Draft action memoranda, with attachments, are linked below; all files are PDF. The regulatory information will be published in the near future in the Federal Register.

• Proposed Rule – Parts 701 and 741 of Rules and Regulations, NCUSIF Premium and 1 Percent Deposit. Item 1a; Item 1b
  
• Final Rule – Parts 741, 748 and 749 of Rules and Regulations, Credit Union Reporting. Item 2a; Item 2b
  
• Final Rule – Part 707 of Rules and Regulations, Truth in Savings Act Disclosures. Item 3a; Item 3b
  
• Interest Rate Ceiling Determination under Section 107(5) of the Federal Credit Union Act. Item 4a; Item 4b; Item 4c
  
• Reprogramming of NCUA 2009 Operating Budget. Item 5a
  
• Revisions to Temporary Corporate Credit Union Liquidity Guarantee Program. Item 6a; Item 6b; Item 6c
  
• NCUSIF Report. Item 7a; Item 7b

NCUA; renewal of Suspicious Activity Report by Depository Institutions

07/16/09: Suspicious Activity Report by Depository Institutions. Extension of current information collection; noticeand request for comment. NCUA.
Comments are due 08/17/09. PDF Text

OFAC blocked persons designation

07/16/09: Designation of One Individual and One Entity Pursuant to Executive Order 13438. Notice. Office of Foreign Assets Control.
Effective 07/02/09. PDF Text

NCUA, item added to open board meeting agenda

07/16/09: Notice of a Matter To Be Added to the Agenda for Consideration at an Agency Meeting. (This was noted in yesterday's post but is just published today in the Federal Register.) NCUA.
Open meeting is at 10 a.m.; a closed meeting follows. PDF Text

NCUA Temporary Corporate Credit Union Liquidity Guarantee Program

07/15/09: NCUA Board July 16 open meeting agenda; revisions to Temporary Corporate Credit Union Liquidity Guarantee Program added. NCUA.
Open meeting is at 10 a.m; closed meeting follows. HTML

Electronic transfer accounts; Treasury information collection from providers

07/15/09: Electronic Transfer Account Financial Agency Agreement. Extension of currently approved information collection. Submission for OMB Review; comment request. Treasury.
Comments are due 08/14/09. PDF Text

OFAC blocked persons designation

07/15/09: Additional Designation of Entities Pursuant to Executive Order 12978. Notice. Office of Foreign Assets Control.
Effective 07/09/09. PDF Text

OFAC blocked persons designation lifted

07/15/09: Unblocking of Specially Designated Nationals and Blocked Persons Pursuant to Executive Order 12978. Notice. Office of Foreign Assets Control.
Effective 06/26/09. PDF Text

Special notice: Availability of U.S. Central, WesCorp external analyses

07/14/09: Clayton IPS, LLP, quarterly analyses of U.S. Central, Western Corporate portfolios. The two institutions are authorized to release reports to federally insured credit unions, upon request; proprietary information is redacted but may be purchased. NCUA.
HTML

NCUA Board open meeting agenda

07/13/09: Sunshine Act; notice of agency meeting. NCUA.
Open meeting is 10 a.m. 07/16/09; closed meeting follows. PDF Text

Federal Trade Commission proposed information collection

07/13/09: Depository institutions lacking federal deposit insurance. Proposed collection; comment request. Federal Trade Commission.
Comments are due 09/14/09. PDF Text

Federal Housing Finance Agency community support reviews

07/10/09: Federal Home Loan Bank Members Selected for Community Support Review. Notice. Federal Housing Finance Agency.
Community support statement are due 08/31/09. PDF Text

OFAC blocked persons designation lifted

07/09/09: Unblocking of Specially Designated Nationals and Blocked Persons Pursuant to Executive Order 12978. Notice. Office of Foreign Assets Control.
Effective 07/01/09. PDF Text

Special notice: Corporate credit union stabilization

07/07/09: NCUA report on stabilization activities. Credit unions' 1 percent deposit in the National Credit Union Share Insurance Fund is fully restored. HTML

Fair credit reporting affiliate marketing regulations; correction

07/08/09: Fair Credit Reporting Affiliate Marketing Regulations; Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003. Correction. NCUA, Federal Reserve Board, FDIC, Office of the Comptroller of the Currency, Office of Thrift Supervision, Federal Trade Commission.
Effective 07/08/09. PDF Text

OFAC blocked persons designation

07/07/09: Designation of an Entity Pursuant to Executive Order 13382. Notice. Office of Foreign Assets Control.
Effective 06/30/09. PDF Text

FDIC final rule; annual audits and reporting

07/07/09: Annual Independent Audits and Reporting Requirements. Final rule. FDIC.
Effective 08/06/09. PDF Text

Interagency guidance proposal on funding and liquidity risk management

07/06/09: Proposed Interagency Guidance—Funding and Liquidity Risk Management. Notice with request for comment. NCUA, Federal Reserve Board, FDIC, Office of the Comptroller of the Currency, Office of Thrift Supervision, Conference of State Bank Supervisors.
Comments are due 09/04/09. PDF Text

Special notice: FFIEC statement on regulatory conversions

07/01/09: Federal regulatory policy on conversions. Policy statement. NCUA, FDIC, Federal Reserve Board, Office of the Comptroller of the Currency, Office of Thrift Supervision.

• Announcement PDF
• Policy statement PDF

NCUA; updated list of corporates in Temporary Liquidity Guaranty Program

07/02/09: Updated list of corporates in Temporary Corporate Credit Union Liquidity Guarantee Program. NCUA.
As of 06/30/09. PDF

FHFA interim final rule; prior approval for enterprise products

07/02/09: Prior Approval for Enterprise Products. Interim final rule; request for comments. Federal Housing Finance Agency.
Effective 07/02/09; comments are due 08/31/09. PDF Text

Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies; FACT Act final rules

07/01/09: Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies Under Section 312 of the Fair and Accurate Credit Transactions Act. Final rules. NCUA, Federal Reserve Board, Office of the Comptroller of the Currency, FDIC, Office of Thrift Supervision, Federal Trade Commission.
Effective 07/01/10. PDF Text

Guidelines for Furnishers of Information to Consumer Reporting Agencies; advance notice of proposed rulemaking

07/01/09: Guidelines for Furnishers of Information to Consumer Reporting Agencies. Advance notice of proposed rulemaking. NCUA, Federal Reserve Board, Office of the Comptroller of the Currency, FDIC, Office of Thrift Supervision, Federal Trade Commission.
Comments are due 08/31/09. PDF Text