Temporary final rule, Temporary Regulatory Relief in Response to COVID-19-Extension, 85 Fed. Reg. 83405 (Dec. 22, 2020)

The record

Jurisdiction

United States; National Credit Union Administration (federal)

Level

Federal

Authority

12 U.S.C. § 1766(a); § 1789

Issued

2020-12-22 Dec. 22, 2020

Effective

2020-12-22

End

2021-12-31

In force

Dec. 22, 2020 to Dec. 31, 2021

Quarters

2020 Q42021 Q12021 Q22021 Q3

2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3

Limitation types

Business closureOther

Addressees

• federal credit unions

Functions reached

• BR premises (occupancy clock tolled through 2021)
• BL
• OP

Collection

Federal financial regulators AGY-FED-FINANCIAL

Operative words

[The Board is] extending the effective date of its [April 2020 temporary final rule, which] temporarily raised the maximum aggregate amount of loan [participations a federal credit union may purchase to the] greater of $5,000,000 or 200 percent of [net worth and tolled the occupancy and disposal timeframes for premises, because of the] distancing practices necessitated by [the pandemic].... [The Board] determined that it is necessary to extend the effectiveness of these temporary [measures through December 31, 2021].

Enforcement

Notes