{"id":"AGY-FED-FINANCIAL-044","kind":"order","level":"federal","jurisdiction":"United States; National Credit Union Administration (federal)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"NCUA Board","authority":"12 U.S.C. § 1790d(b), (e), (f)","instrument":"Interim final rule, Temporary Regulatory Relief in Response to COVID-19-Prompt Corrective Action, 85 Fed. Reg. 31952 (May 28, 2020)","title":"Temporary Regulatory Relief in Response to COVID-19-Prompt Corrective Action","dateIssued":"2020-05-28","effective":"2020-05-28","end":"2020-12-31 (reintroduced by IFR and administrative order of April 26, 2021, in place until March 31, 2022, Ex. 049)","startDate":"2020-05-28","endDate":"2020-12-31","quarters":["2020Q2","2020Q3","2020Q4"],"types":["OTHER"],"addressees":["federally insured credit unions"],"clause":"DATES: This rule is effective on May 28, [2020].... [The Board is] temporarily modifying certain [PCA requirements, including] the earnings retention requirement for [adequately capitalized credit unions and the documentation required for net worth restoration plans, to remain in] place until December 31, 2020.","enforcement":"12 C.F.R. part 702; 12 U.S.C. § 1790d","functions":["OP capital and earnings retention","SV (fee waivers and forbearance recognized as causes of earnings decline)"],"notes":"The Board\u0027s finding that credit unions\u0027 COVID-19 response (waived fees, forbearance) would reduce earnings and capital ratios","sourceUrl":"https://www.govinfo.gov/content/pkg/FR-2020-05-28/pdf/2020-11384.pdf","snapshot":"","fileExists":true,"fileBytes":261607,"grade":"primary","character":"","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-044","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-044","citation":"NCUA Board, Interim final rule, Temporary Regulatory Relief in Response to COVID-19-Prompt Corrective Action, 85 Fed. Reg. 31952 (May 28, 2020) (Ex. AGY-FED-FINANCIAL-044)","stateName":"","related":["AGY-FED-FINANCIAL-041","AGY-FED-FINANCIAL-039","AGY-FED-FINANCIAL-040"]}