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Corporate Credit Unions

NCUA · final-rule · Published 2015-09-23 · Effective 2015-10-23 · 80 FR 57283

Document

Document number
2015-24160
Federal Register citation
80 FR 57283
CFR reference
12 CFR 704
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2015-09-23
Effective date
2015-10-23

Abstract

The NCUA Board (Board) is issuing this final rule to exclude Central Liquidity Facility-related bridge loans (CLF-related bridge loans) from the aggregate unsecured lending cap to one borrower applicable to corporate credit unions (Corporates). Specifically, a CLF-related bridge loan that is exempt from that cap is a bridge loan made by a Corporate to a natural person credit union where the natural person credit union has been approved for a loan by the CLF and is awaiting funding from the CLF. Additionally, this rule excludes CLF- related bridge loans from the calculation of "net assets" and "net risk weighted assets" for determining minimum capital requirements.

Source

Authoritative
Federal Register document
Machine
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