[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: 12CFR742.2]



[Page 608]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 742_REGULATORY FLEXIBILITY PROGRAM--Table of Contents

 

Sec. 742.2  How do I become eligible for the Regulatory Flexibility 

Program?



    Eligibility is automatic as soon as the credit union meets the net 

worth and CAMEL criteria. If a credit union is a CAMEL 3 (or CAMEL 1 or 

2 for less than two consecutive cycles) with a net worth in excess of 9 

percent or if the credit union is a CAMEL 1 or 2 with a net worth under 

9 percent (or if a credit union is subject to a risk-based net worth 

requirement under Sec. 702.103 of this chapter, and it does not exceed 

200 basis points over its risk based net worth level), it can apply to 

the regional director for a RegFlex designation, in whole or in part.