NATIONAL CREDIT UNION ADMINISTRATION ISSUES RULE: PURCHASE, SALE, AND PLEDGE OF ELIGIBLE OBLIGATIONS

WASHINGTON, Aug. 6 -- National Credit Union Administration has issued a rule called: Purchase, Sale, and Pledge Of Eligible Obligations.

The rule was published in the Federal Register on Aug. 6 by Melane Conyers-Ausbrooks, Secretary of the Board.

Summary: This final rule streamlines the NCUA Board (Board)'s regulations governing the purchase, sale, and pledge of eligible obligations. Specifically, the final rule removes the prescriptive lists of items that must be addressed in the written policies adopted by a federal credit union (FCU). Removal of the mandated items will enable a more efficient and principles-based approach. The final rule also removes detailed requirements regarding conflicts of interest and compensation. These regulato...