[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.