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e-CFR data is current as of January 25, 2021

Title 12Chapter VIISubchapter APart 702Subpart A → §702.103

Title 12: Banks and Banking
Subpart A—Net Worth Classification

§702.103   Applicability of risk-based net worth requirement.

Link to an amendment published at 83 FR 55478, Nov. 6, 2018.

This amendment was delayed until Jan. 1, 2022, at 84 FR 68781, Dec. 17, 2019.

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 in its most recent Call Report:

(a) Minimum asset size. Its quarter-end total assets exceed fifty million dollars ($50,000,000); 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 at 67 FR 13464, Mar. 19, 2002; 67 FR 71088, Nov. 29, 2002; 75 FR 34620, June 18, 2010; 78 FR 4037, Jan. 18, 2013]

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