Voglio sapere a riguardo di…

Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations distribution of power and responsibilities among the various levels of government. The NCUA has determined this rule does not constitute a policy that has federalism implications for purposes of the executive order.

By the National Credit Union Administration Board on January 19, 2021.
Melane Conyers-Ausbrooks, Secretary of the Board.

D. Assessment of Federal Regulations and Policies on Families
Authority and Issuance
The NCUA has determined that this proposed rule will not affect family well-being within the meaning of Section 654 of the Treasury and General Government Appropriations Act, 1999.31
E. Congressional Review Act For purposes of Congressional Review Act, the OMB makes a determination as to whether a final rule constitutes a major rule.32 If a rule is deemed a major rule by the OMB, the Congressional Review Act generally provides that the rule may not take effect until at least 60 days following its publication.33
The Congressional Review Act defines a major rule as any rule that the Administrator of the Office of Information and Regulatory Affairs of the OMB finds has resulted in or is likely to result in A an annual effect on the economy of $100,000,000 or more; B a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies or geographic regions, or C significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreignbased enterprises in domestic and export markets.34 As required by the Congressional Review Act, the NCUA
will submit the final rule and other appropriate reports to Congress and the Government Accountability Office for review.
List of Subjects in 12 CFR Part 791
Administrative practice and procedure, Credit unions, Sunshine Act.

National Credit Union Administration 12 CFR Chapter VII

For the reasons stated in the preamble, 12 CFR part 791 is amended as follows:
PART 791RULES OF NCUA BOARD
PROCEDURE; PROMULGATION OF
NCUA RULES AND REGULATIONS;
OBSERVANCE OF NCUA BOARD
MEETINGS
1. The authority citation for part 791
is revised to read as follows:

Authority: 12 U.S.C. 1766, 1781, 1786, 1787, 1789, and 5 U.S.C. 552b.

2. Subpart D is added to part 791 to read as follows:

Subpart DUse of Supervisory Guidance Sec.
791.19 Purpose.
791.20 Implementation of the Interagency Statement.
791.21 Rule of construction.
Appendix A to Subpart DStatement Clarifying the Role of Supervisory Guidance
Subpart DUse of Supervisory Guidance 791.19

791.20. Implementation of the Interagency Statement.

The Statement describes the official policy of the NCUA with respect to the use of supervisory guidance in the supervisory process. The Statement is binding on the NCUA.

jbell on DSKJLSW7X2PROD with RULES

791.21

31 Public
Law 105277, 112 Stat. 2681 1998.
32 5 U.S.C. 801 et seq.
33 5 U.S.C. 801a3.
34 5 U.S.C. 8042.

VerDate Sep<11>2014

15:49 Feb 02, 2021

Jkt 253001

Purpose.

The NCUA issues regulations and guidance as part of its supervisory function. This subpart reiterates the distinctions between regulations and guidance, as stated in the Interagency Statement Clarifying the Role of Supervisory Guidance Interagency Statement and provides that the Statement is binding on the NCUA.

Rule of construction.

Appendix A to this subpart does not alter the legal status of guidance that is authorized by statute, including but not limited to 12 U.S.C. 1781, 1786, and 1789, to create binding legal obligations.

PO 00000

Frm 00031

Fmt 4700

Sfmt 4700

7957

Appendix A to Subpart DStatement Clarifying the Role of Supervisory Guidance Statement Clarifying the Role of Supervisory Guidance The National Credit Union Administration is responsible for promoting safety and soundness and effective consumer protection at Federal credit unions. The NCUA is issuing this statement to explain the role of supervisory guidance and to describe its approach to supervisory guidance.
Difference Between Supervisory Guidance and Laws or Regulations 1 The NCUA issue various types of supervisory guidance, including interagency statements, advisories, bulletins, policy statements, questions and answers, and frequently asked questions, to their respective supervised institutions. A law or regulation has the force and effect of law.1
Unlike a law or regulation, supervisory guidance does not have the force and effect of law, and the NCUA do not take enforcement actions based on supervisory guidance. Rather, supervisory guidance outlines the NCUAs supervisory expectations or priorities and articulates the agencys general views regarding appropriate practices for a given subject area. Supervisory guidance often provides examples of practices that the agency generally considers consistent with safety-and-soundness standards or other applicable laws and regulations, including those designed to protect consumers. Supervised institutions at times request supervisory guidance, and such guidance is important to provide insight to industry, as well as supervisory staff, in a transparent way that helps to ensure consistency in the supervisory approach.
Ongoing Agency Efforts To Clarify the Role of Supervisory Guidance 2 The NCUA is clarifying the following policies and practices related to supervisory guidance:
i The NCUA intends to limit the use of numerical thresholds or other bright-lines in describing expectations in supervisory guidance. Where numerical thresholds are used, the NCUA intends to clarify that the thresholds are exemplary only and not suggestive of requirements. The agency will continue to use numerical thresholds to tailor, and otherwise make clear, the applicability of supervisory guidance or programs to supervised institutions, and as required by statute.
ii Examiners will not criticize through the issuance of matters requiring attention, matters requiring immediate attention, matters requiring board attention, documents of resolution, and supervisory recommendations a supervised financial institution for, and the NCUA will not issue an enforcement action on the basis of, a violation of or non-compliance with 1 Government agencies issue regulations that generally have the force and effect of law. Such regulations generally take effect only after the agency proposes the regulation to the public and responds to comments on the proposal in a final rulemaking document.

E:FRFM03FER1.SGM

03FER1