Capital classification.

CFR · 2024-01-01 · US · Title 12

(a) (1) (i)(A) (B) (ii) (B) The complex credit union is a qualifying complex credit union that has opted into the CCULR framework under § 702.104(d), is in the grace period, as defined in § 702.104(d)(7), and has a CCULR of 7.0 percent or greater. (2) (i) (ii) (iii) Does not meet the definition of a well capitalized credit union. (3) (i) (ii) (4) (i) The credit union has a net worth ratio of 2.0 percent or more but less than 4.0 percent; or (ii) The credit union has a net worth ratio of 4.0 percent or more but less than 5.0 percent, and either— (A) Fails to submit an acceptable net worth restoration plan within the time prescribed in § 702.110; (B) Materially fails to implement a net worth restoration plan approved by the NCUA Board; or (C) Receives notice that a submitted net worth restoration plan has not been approved. (5) (b) (1) (2) (c) (d)

official document · source cfr-2024 · id 12:§ 702.102