NATIONAL CREDIT UNION ADMINISTRATION ISSUES PROPOSED RULE: THRESHOLDS INCREASE FOR THE MAJOR ASSETS PROHIBITION OF THE DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS ACT RULE

WASHINGTON, May 7 -- National Credit Union Administration has issued a proposed rule called: Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rule.

The proposed rule was published in the Federal Register on May 7 by Melane Conyers-Ausbrooks, Secretary of the Board.

Summary: The NCUA Board (Board) is seeking comment on a proposed rule that would increase two thresholds in its regulation implementing management official interlocks for purposes of the Depository Institution Management Interlocks Act (DIMIA). DIMIA provides that the NCUA may adjust, by regulation, the major assets prohibition thresholds to allow for inflation or market changes. This proposal would increase both major...