83_FR_14808 83 FR 14741 - Requirements for Insurance; National Credit Union Share Insurance Fund Equity Distributions; Correction

83 FR 14741 - Requirements for Insurance; National Credit Union Share Insurance Fund Equity Distributions; Correction

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 83, Issue 67 (April 6, 2018)

Page Range14741-14741
FR Document2018-07068

On February 23, 2018, the NCUA Board (Board) published a final rule adopting amendments to its share insurance requirements rule to provide stakeholders with greater transparency regarding the calculation of each eligible financial institution's pro rata share of a declared equity distribution from the National Credit Union Share Insurance Fund (NCUSIF). A clerical error appeared that resulted in an incorrect amendatory instruction. This document corrects that error.

Federal Register, Volume 83 Issue 67 (Friday, April 6, 2018) 
[Federal Register Volume 83, Number 67 (Friday, April 6, 2018)]
[Rules and Regulations]
[Page 14741]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-07068]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 741

RIN 3133-AE77


Requirements for Insurance; National Credit Union Share Insurance 
Fund Equity Distributions; Correction

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule; correcting amendment.

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SUMMARY: On February 23, 2018, the NCUA Board (Board) published a final 
rule adopting amendments to its share insurance requirements rule to 
provide stakeholders with greater transparency regarding the 
calculation of each eligible financial institution's pro rata share of 
a declared equity distribution from the National Credit Union Share 
Insurance Fund (NCUSIF). A clerical error appeared that resulted in an 
incorrect amendatory instruction. This document corrects that error.

DATES: This correction is effective April 6, 2018.

FOR FURTHER INFORMATION CONTACT: Benjamin M. Litchfield, Staff 
Attorney, Office of General Counsel, the National Credit Union 
Administration, at 1775 Duke Street, Alexandria, Virginia 22314-3428, 
or by telephone at (703) 518-6540.

SUPPLEMENTARY INFORMATION: On February 23, 2018, at 83 FR 7954, the 
Board published a final rule adopting amendments to 12 CFR part 741. 
Amendatory instruction 2.a.iv. called for revising the definition of 
``equity ratio'' in Sec.  741.4. However, the final rule did not set 
out regulatory text for the revised definition of ``equity ratio.'' 
This was an inadvertent drafting error. This document corrects that 
error by amending the final rule to supply a revised definition for 
``equity ratio.''

List of Subjects in 12 CFR Part 741

    Bank deposit insurance, Credit unions, Reporting and recordkeeping 
requirements.

    By the National Credit Union Administration Board on April 2, 
2018.
 Gerard Poliquin,
 Secretary of the Board.
    For the reasons discussed above, the Board amends 12 CFR part 741 
as follows:

PART 741--REQUIREMENTS FOR INSURANCE

0
1. The authority citation for part 741 continues to read as follows:

    Authority:  12 U.S.C. 1757, 1766(a), 1781-1790, and 1790d; 31 
U.S.C. 3717.



0
2. Amend Sec.  741.4 in paragraph (b), by revising the definition of 
``equity ratio'' to read as follows:


Sec.  741.4  Insurance premium and one percent deposit.

* * * * *
    (b) * * *
* * * * *
    Equity ratio means the ratio of:
    (i) The amount determined by subtracting--
    (A) Direct liabilities of the NCUSIF and contingent liabilities for 
which no provision for losses has been made from
    (B) The sum of all one percent deposits made by federally insured 
credit unions pursuant to paragraph (c) of this section and the 
retained earnings balance of the NCUSIF, to
    (ii) The aggregate amount of insured shares in all federally 
insured credit unions.
* * * * *
[FR Doc. 2018-07068 Filed 4-5-18; 8:45 am]
 BILLING CODE 7535-01-P

Federal Register / Vol. 83, No. 67 / Friday, April 6, 2018 / Rules and Regulations 14741 Subpart F—Grade Requirements By the National Credit Union replacement of the LPT stage 3 nozzles, Administration Board on April 2, 2018. part numbers (P/Ns) 9290M52P05 and Dated: March 30, 2018. Gerard Poliquin, 9290M52P06, installed. We are issuing Bruce Summers, Secretary of the Board. this AD to address the unsafe condition Acting Administrator, Agricultural Marketing For the reasons discussed above, the on these products. Service. Board amends 12 CFR part 741 as DATES: This AD is effective May 11, [FR Doc. 2018–06882 Filed 4–5–18; 8:45 am] follows: 2018. BILLING CODE 3410–02–P PART 741—REQUIREMENTS FOR ADDRESSES: For service information INSURANCE identified in this final rule, contact General Electric Company, GE-Aviation, ■ 1. The authority citation for part 741 Room 285, 1 Neumann Way, Cincinnati, NATIONAL CREDIT UNION continues to read as follows: OH 45215, phone: 513–552–3272; fax: ADMINISTRATION 513–552–3329; email: geae.aoc@ge.com. Authority: 12 U.S.C. 1757, 1766(a), 1781– 12 CFR Part 741 1790, and 1790d; 31 U.S.C. 3717. You may view this service information at the FAA, Engine and Propeller ■ 2. Amend § 741.4 in paragraph (b), by Standards Branch, 1200 District RIN 3133–AE77 revising the definition of ‘‘equity ratio’’ Avenue, Burlington, MA 01803. For to read as follows: information on the availability of this Requirements for Insurance; National Credit Union Share Insurance Fund § 741.4 Insurance premium and one material at the FAA, call 781–238–7759. Equity Distributions; Correction percent deposit. It is also available on the internet at * * * * * http://www.regulations.gov by searching AGENCY:National Credit Union (b) * * * for and locating Docket No. FAA–2017– Administration (NCUA). 0668. * * * * * Final rule; correcting ACTION: Equity ratio means the ratio of: Examining the AD Docket amendment. (i) The amount determined by You may examine the AD docket on subtracting— SUMMARY: On February 23, 2018, the the internet at http:// (A) Direct liabilities of the NCUSIF NCUA Board (Board) published a final www.regulations.gov by searching for and contingent liabilities for which no rule adopting amendments to its share and locating Docket No. FAA–2017– provision for losses has been made from insurance requirements rule to provide 0668; or in person at Docket Operations (B) The sum of all one percent stakeholders with greater transparency between 9 a.m. and 5 p.m., Monday deposits made by federally insured regarding the calculation of each eligible through Friday, except Federal holidays. credit unions pursuant to paragraph (c) financial institution’s pro rata share of The AD docket contains this final rule, of this section and the retained earnings a declared equity distribution from the the regulatory evaluation, any balance of the NCUSIF, to National Credit Union Share Insurance comments received, and other (ii) The aggregate amount of insured Fund (NCUSIF). A clerical error information. The address for Docket shares in all federally insured credit appeared that resulted in an incorrect Operations (phone: 800–647–5527) is unions. amendatory instruction. This document Docket Operations, U.S. Department of * * * * * Transportation, Docket Operations, corrects that error. [FR Doc. 2018–07068 Filed 4–5–18; 8:45 am] M–30, West Building Ground Floor, DATES: This correction is effective April BILLING CODE 7535–01–P Room W12–140, 1200 New Jersey 6, 2018. Avenue SE, Washington, DC 20590. FOR FURTHER INFORMATION CONTACT: FOR FURTHER INFORMATION CONTACT: Benjamin M. Litchfield, Staff Attorney, DEPARTMENT OF TRANSPORTATION Herman Mak, Aerospace Engineer, ECO Office of General Counsel, the National Federal Aviation Administration Branch, FAA, 1200 District Avenue, Credit Union Administration, at 1775 Burlington, MA 01803; phone: 781– Duke Street, Alexandria, Virginia 14 CFR Part 39 238–7147; fax: 781–238–7199; email: 22314–3428, or by telephone at (703) herman.mak@faa.gov. 518–6540. [Docket No. FAA–2017–0668; Product Identifier 2017–NE–17–AD; Amendment 39– SUPPLEMENTARY INFORMATION: SUPPLEMENTARY INFORMATION: On 19236; AD 2018–07–05] February 23, 2018, at 83 FR 7954, the Discussion Board published a final rule adopting RIN 2120–AA64 We issued a notice of proposed amendments to 12 CFR part 741. rulemaking (NPRM) to amend 14 CFR Amendatory instruction 2.a.iv. called Airworthiness Directives; General part 39 by adding an AD that would for revising the definition of ‘‘equity Electric Company Turbofan Engines apply to all GE CF6–80A, –80A1, ratio’’ in § 741.4. However, the final rule AGENCY: Federal Aviation –80A2, and –80A3 turbofan engines. did not set out regulatory text for the Administration (FAA), DOT. The NPRM published in the Federal revised definition of ‘‘equity ratio.’’ This ACTION: Final rule. Register on September 12, 2017 (82 FR was an inadvertent drafting error. This 42752) and an NPRM correction document corrects that error by SUMMARY: We are adopting a new published on September 21, 2017 (82 FR amending the final rule to supply a airworthiness directive (AD) for all 44127). The NPRM was prompted by an daltland on DSKBBV9HB2PROD with RULES revised definition for ‘‘equity ratio.’’ General Electric Company (GE) CF6– LPT uncontainment on a GE CF6–80A2 80A, –80A1, –80A2, and –80A3 engine. An investigation determined the List of Subjects in 12 CFR Part 741 turbofan engines. This AD was uncontainment was the result of HCF Bank deposit insurance, Credit prompted by high cycle fatigue (HCF) cracking of the LPT stage 3 nozzles. The unions, Reporting and recordkeeping cracking of the low-pressure turbine NPRM proposed to require replacement requirements. (LPT) stage 3 nozzles. This AD requires of the LPT stage 3 nozzles. We are VerDate Sep<11>2014 20:57 Apr 05, 2018 Jkt 244001 PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 E:\FR\FM\06APR1.SGM 06APR1


Document Created: 2018-11-01 09:14:57
Document Modified: 2018-11-01 09:14:57
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionRules and Regulations
ActionFinal rule; correcting amendment.
DatesThis correction is effective April 6, 2018.
ContactBenjamin M. Litchfield, Staff Attorney, Office of General Counsel, the National Credit Union Administration, at 1775 Duke Street, Alexandria, Virginia 22314-3428, or by telephone at (703) 518-6540.
FR Citation83 FR 14741 
RIN Number3133-AE77
CFR AssociatedBank Deposit Insurance; Credit Unions and Reporting and Recordkeeping Requirements
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