Prompt corrective action for undercapitalized credit unions.

CFR · 2024-01-01 · US · Title 12

(a) (1) (2) (3) (i) (A) The assets of the credit union are increasing consistent with the approved plan; and (B) The credit union is implementing steps to increase the net worth ratio consistent with the approved plan; (ii) (A) Total accounts receivable and accrued income on loans and investments; or (B) Total cash and cash equivalents; or (C) Total loans outstanding, not to exceed the sum of total assets plus the quarter-end balance of unused commitments to lend and unused lines of credit provided however that a credit union which increases a balance as permitted under paragraphs (a)(3)(ii)(A), (B) or (C) of this section cannot offer rates on shares in excess of prevailing rates on shares in its relevant market area, and cannot open new branches; (4) (b) (1) (2) (3) (4) (5) (6) (7) (8) (9) (c)

official document · source cfr-2024 · id 12:§ 702.107