Definitions.

CFR · 2024-01-01 · US · Title 12

As used in this chapter: (i) It is determined by the Board that the facts that caused the deficient share-asset ratio no longer exist; and (ii) The likelihood of further depreciation of the share-asset ratio is not probable; and (iii) The return of the share-asset ratio to its normal limits within a reasonable time for the credit union concerned is probable; and (iv) The probability of a further potential loss to the insurance fund is negligible. (2) For purposes of this section, the following definitions are used: (i) (ii) (i) A federal credit union that has been assigned a 4 or 5 CAMELS composite rating by NCUA; or (ii) A federally insured, state-chartered credit union that has been assigned a 4 or 5 CAMELS composite rating by either NCUA, after an on-site contact, or its state supervisor; or (iii) A federal credit union or a federally insured, state-chartered credit union that has been granted assistance under section 208 of the Federal Credit Union Act, 12 U.S.C. 1788, that remains outstanding and unextinguished. (2) In the case of an insured corporate credit union: (i) A Federal credit union that has been assigned a 4 or 5 CAMELS rating by NCUA; or (ii) A federally insured, state-chartered credit union that has been assigned a 4 or 5 CAMELS rating by either NCUA, after an on-site contact, or its state supervisor; or (iii) A Federal credit union or a federally insured, state-chartered credit union that has been granted assistance under section 208 of the Federal Credit Un

official document · source cfr-2024 · id 12:§ 700.2