{"id":"AGY-FED-FINANCIAL-036","kind":"context","level":"federal","jurisdiction":"United States; National Credit Union Administration (federal)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"NCUA","authority":"12 U.S.C. § 1766(a)","instrument":"Letter to Credit Unions 20-CU-09","title":"Temporary Regulatory Relief in Response to the COVID-19 Pandemic","dateIssued":"2020-04-01","effective":"April 2020 (relief measures effective April 21, 2020 on publication of the IFR)","end":"2020-12-31, extended to 2021-12-31 (Ex. 048)","startDate":"2020-04-21","endDate":"2021-09-30","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER","CLOSE"],"addressees":["federally insured credit unions"],"clause":"Given the unprecedented challenges posed by the COVID-19 pandemic, the NCUA is providing temporary relief from certain regulatory requirements.... Under § 701.36(c), federal credit unions cannot retain premises that are not being used to conduct credit union business unless they apply for, and are granted, a waiver. The NCUA Board is amending the timeframe for calculating the need for such waivers. Any days that fall within the date of the temporary final rule\u0027s publication in the Federal Register and December 31, 2020, will not be counted for purposes of determining a federal credit union\u0027s compliance with the required time periods described in § 701.36(c).","enforcement":"12 C.F.R. part 701; 12 U.S.C. § 1786","functions":["BR premises (unused or closed premises tolled from the occupancy rule)","BL loan participations and eligible-obligation purchases","OP"],"notes":"The NCUA\u0027s recognition that credit union premises would stand unused during the pandemic; the occupancy clock was stopped from April 21 to December 31, 2020 and then to December 31, 2021","sourceUrl":"https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/temporary-regulatory-relief-response-covid-19-pandemic","snapshot":"https://web.archive.org/web/2021/https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/temporary-regulatory-relief-response-covid-19-pandemic","fileExists":true,"fileBytes":466791,"grade":"primary","character":"context","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-036","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-036","citation":"NCUA, Letter to Credit Unions 20-CU-09 (Apr. 1, 2020) (Ex. AGY-FED-FINANCIAL-036)","stateName":"","related":["AGY-FED-FINANCIAL-103","AGY-FED-FINANCIAL-043","AGY-FED-FINANCIAL-038","AGY-FED-FINANCIAL-042","AGY-FED-FINANCIAL-034","AGY-FED-FINANCIAL-037","AGY-FED-FINANCIAL-035","AGY-FED-FINANCIAL-033","AGY-FED-FINANCIAL-031","AGY-FED-FINANCIAL-032","AGY-FED-FINANCIAL-046"]}