Federal Register - Credit Unions Proposals

Requirements for Insurance; Maximum Borrowing Authority

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AI Summary

The NCUA proposes removing the maximum borrowing authority from its regulations for federally insured credit unions. This change would eliminate an unnecessary provision for federal credit unions and reduce regulatory burden for state-chartered credit unions.

Texas Relevance

The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities. It applies to all federally insured credit unions nationwide.

Original Content

The NCUA Board (Board) seeks comment on a proposed rule to remove the maximum borrowing authority from the NCUA's regulations that establish the requirements for obtaining and maintaining federal share insurance with the National Credit Union Share Insurance Fund (Share Insurance Fund). This provision applies to all federally insured credit unions (FICUs). Removing this regulation would eliminate an unnecessary provision that duplicates the statutory maximum borrowing limit for federal credit unions (FCUs). For federally insured, state-chartered credit unions (FISCUs), removing this section would reduce the federal regulatory burden associated with the federal limit and related waiver provision.