3133-AF19 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 3133 National Credit Union Administration NCUA Temporary Regulatory Relief in Response to COVID-19 Prompt Corrective Action

The NCUA Board (Board) issued an interim final rule that temporarily modified certain regulatory requirements to help ensure that federally insured credit unions (FICUs) remain operational and liquid during the COVID-19 crisis.  Specifically, this interim final rule made two temporary changes to its Prompt Corrective Action (PCA) regulations: the first change temporarily waived the earnings retention requirement for any FICU that is adequately capitalized, and the second temporarily modified submission requirements for certain net worth restoration plans. These temporary modifications were in place until December 31, 2020.  Through a second interim final rule published on April 29, 2021, the Board re-implemented the temporary provisions until March 31, 2022.  In a third interim final rule published on February 28, 2022, the Board extended the temporary provisions until March 31, 2023. The Board will review the comments received on this most recent rule.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage No No 12 CFR 702 12 U.S.C. 1766(a) 12 U.S.C. 1790d No Interim Final Rule 05/28/2020 85 FR 31952 Interim Final Rule Comment Period End 06/29/2020 Second Interim Final Rule 04/19/2021 86 FR 20258 Second Interim Final Rule Comment Period End 06/18/2021 Third Interim Final Rule 02/28/2022 87 FR 10944 Third Interim Final Rule Comment Period End 04/29/2022 Final Rule 01/00/2024 No No None No https://www.ncua.gov/regulation-supervision/rulemakings-proposals-comment No No Marvin Shaw Senior Staff Attorney 3133 National Credit Union Administration NCUA 703 518-6553 703 518-6569 mshaw@ncua.gov 1775 Duke Street, Alexandria VA 22314