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NCUA APPROVES NEW FIXED ASSET RULE
updated 09/13/13 10:18 AM
Revisions to Streamline Regulation
The National Credit Union Administration (NCUA) approved the revised fixed asset rule on Sept. 12.

The revised rule streamlines existing regulation and provides clarification to waiver requests and unimproved land or unimproved real property.

NCUA Staff Attorney Pamela Yu described the fixed asset waiver process that allows for an additional 1 percent of shares and retained earnings over the approved waiver amount. Under the new rule, federal credit unions that exceed the 1 percent buffer would have to submit a new waiver request. However, multiple purchases of fixed assets could be made within the 1 percent buffer, a provision included to limit credit unions from making multiple requests. Exceeding the 5 percent aggregate limit would require a new waiver request.

The revised rule also clarifies unimproved land or property as raw land without development, significant buildings, structures or site preparation; land that has never had improvements; or, land that was improved at one time but has functionally reverted to its unimproved state.

New Board Member Rick Metsger requested additional information to determine whether more rule changes should be made in the future.

                           
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NEW DERIVATIVE HEDGING SERVICE updated 04/24/14 10:06 AM
Announded by Catalyst Corporate
Catalyst Strategic Solutions, a wholly-owned credit union service organization (CUSO) of Catalyst Corporate FCU, has launched a Derivative Hedging Service to help credit unions mitigate interest-rate risk.

CONGRESS DRAFTS RBC COMMENTS TO NCUA updated 04/23/14 03:41 PM
Signatures Being Gathered
In the latest effort to address the National Credit Union Administration’s (NCUA) pending rule on risk-based capital, members of Congress are now interested in sending their own comment letter.

YOUTH FLOCK TO FIN. LITERACY EVENTS updated 04/22/14 12:07 PM
CUs Catch the 'Save Wave'
Credit unions in California and Nevada are celebrating National Financial Literacy Month and National Credit Union Youth Week™ (April 22-27) with a number of programs and events.

JOBS, WAGES, CONFIDENCE: THE FUTURE updated 04/21/14 12:56 PM
Silver Linings for CA, NV
People borrow money for many purposes. Buying a home, remodeling, purchasing a new car, vacations, and weddings come to mind.