97-18224. Description of NCUA; Requests for Agency Action

[Federal Register Volume 62, Number 133 (Friday, July 11, 1997)]
[Rules and Regulations]
[Page 37126]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18224]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 790


Description of NCUA; Requests for Agency Action

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule.

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SUMMARY: Several months ago, the NCUA Board officially changed the name 
of the Asset Liquidation and Management Center (ALMC) to the Asset 
Management and Assistance Center (AMAC). A new description of the AMAC 
was placed in the regulations. The substitution of AMAC for ALMC is 
made in one section of the regulations. This is merely a housekeeping 
change.

DATES: Effective July 11, 1997.

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

FOR FURTHER INFORMATION CONTACT: Hattie M. Ulan, Special Counsel to the 
General Counsel at the above address or telephone: [phone].

SUPPLEMENTARY INFORMATION: The NCUA Board established the ALMC in July 
1988, to deal with an emerging concentration of real estate assets in a 
limited number of troubled credit unions. The ALMC's mission and 
responsibilities have expanded over the years. In October of 1996, the 
NCUA Board changed the name of the Asset Liquidation Management Center 
to the Asset Management and Assistance Center. In February 1997, the 
NCUA Board noted the name change in the Federal Register. The NCUA 
Board also replaced the description of the duties of the ALMC with a 
new description of the duties of the AMAC. (See 62 FR 8155, 2/24/97.) 
The substitution of Asset Management and Assistance Center for Asset 
Liquidation Management Center is now being made in paragraph 790.2(a) 
of the NCUA Regulations. This paragraph sets forth the general 
organization of NCUA.

Regulatory Procedures

    Since the amendment is merely a housekeeping change to reflect 
current nomenclature, none of the regulatory analyses are required.

List of Subjects in 12 CFR Part 790

    Credit unions.

    By the National Credit Union Administration Board on July 7, 
1997.
Becky Baker,
Secretary of the Board.

    Accordingly, for the reasons set out in the preamble, 12 CFR Ch. 
VII is amended as set forth below.

PART 790--DESCRIPTION OF NCUA; REQUESTS FOR AGENCY ACTION

    1. The authority citation for part 790 continues to read as 
follows:

    Authority: 12 U.S.C. 1766, 12 U.S.C. 1789, 12 U.S.C. 1795f.

    2. Amend Sec. 790.2 by revising paragraph (a) to read as follows:


Sec. 790.2  Central and regional office organization.

    (a) General organization. NCUA is composed of the Board with a 
Central Office in Alexandria, Virginia, six Regional Offices, the Asset 
Management and Assistance Center, the Community Development Revolving 
Loan Program, and the NCUA Central Liquidity Facility (CLF).
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[FR Doc. 97-18224 Filed 7-10-97; 8:45 am]
BILLING CODE 7535-01-P