[Code of Federal Regulations] [Title 12, Volume 6] [Revised as of January 1, 2006] From the U.S. Government Printing Office via GPO Access [CITE: 12CFR742.1] [Page 607-608] TITLE 12--BANKS AND BANKING CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION PART 742_REGULATORY FLEXIBILITY PROGRAM--Table of Contents Sec. 742.1 What is NCUA's Regulatory Flexibility Program? Sec. 742.1 What is NCUA's Regulatory Flexibility Program? 742.2 How do I become eligible for the Regulatory Flexibility Program? 742.3 Will NCUA notify me when I am eligible for the Regulatory Flexibility Program? 742.4 From what NCUA regulations will I be exempt? 742.5 What additional authority will I be granted? 742.6 How can I lose my RegFlex eligibility? 742.7 What is the appeaI process? 742.8 If I lose my RegFlex authority, will my past actions be grandfathered? Authority: 12 U.S.C 1756 and 1766. Source: 66 FR 58662, Nov. 23, 2001, unless otherwise noted. NCUA's Regulatory Flexibility Program (RegFlex) exempts credit unions [[Page 608]] with a current net worth of nine percent (or if a credit union is subject to a risk-based net worth requirement under Sec. 702.103 of this chapter, it must be 200 basis points over its risked based net worth level or nine percent, whichever is higher) and a CAMEL rating of 1 or 2, for two consecutive examinations, from all or part of identified NCUA regulations. The Regulatory Flexibility Program also grants eligible credit unions additional powers.