TITLE 12 - BANKS AND BANKING

CHAPTER VII - NATIONAL CREDIT UNION ADMINISTRATION

SUBCHAPTER A - REGULATIONS AFFECTING CREDIT UNIONS

PART 702 - PROMPT CORRECTIVE ACTION

subpart a - NET WORTH CLASSIFICATION

702.103 - Applicability of risk - based net worth requirement.

For purposes of 702.102, a credit union is defined as complex and a risk-based net worth requirement is applicable only if the credit union meets both of the following criteria as reflected its most recent Call Report: (a) Minimum asset size. Its quarter-end total assets exceed ten million dollars ($10,000,000); and (b) Minimum RBNW calculation. Its risk-based net worth requirement as calculated under 702.106 exceeds six percent (6%).

[65 FR 44966, July 20, 2000, as amended by 67 FR 13464, Mar. 19, 2002; 67 FR 71088, Nov. 29, 2002]