97-31503. Corporate Credit Unions

[Federal Register Volume 62, Number 233 (Thursday, December 4, 1997)]
[Rules and Regulations]
[Page 64148]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-31503]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 704


Corporate Credit Unions

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule; delay of compliance.

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SUMMARY: On March 7, 1997, the NCUA Board issued final amendments to 
part 704 of the NCUA Rules and Regulations, which governs corporate 
credit unions. The effective date of the final amendments is January 1, 
1998. While the effective date remains the same, this document delays 
mandatory compliance with the final amendments until May 1, 1998. The 
delay gives corporate credit unions more time to meet the capital, 
staff, and infrastructure requirements of the new regulation.

DATES: Mandatory compliance with part 704, as published at 62 FR 12929 
(March 19, 1997), is delayed until May 1, 1998.

ADDRESSES: National Credit Union Administration, 1775 Duke Street, 
Alexandria, Virginia 22314-3428.

FOR FURTHER INFORMATION CONTACT: Robert F. Schafer, Director, Office of 
Corporate Credit Unions, at the above address or telephone (703) 518-
6640; or Edward Dupcak, Director, Office of Investment Services, at the 
above address or telephone [phone].

    By the National Credit Union Administration Board on November 
24, 1997.
Becky Baker,
Secretary of the Board.
[FR Doc. 97-31503 Filed 12-3-97; 8:45 am]
BILLING CODE 7535-01-P