12 CFR 702.203

§ 702.203 Prompt corrective action for adequately capitalized new credit unions.

United States · 12 CFR — Banks and Banking · Status: effective

Cite this

Citation: 12 CFR 702.203, § 702.203 Prompt corrective action for adequately capitalized new credit unions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48390
Permanent ID: ys:prov:48390@1
SHA-256: 433935543e62223cc6083f860ae2c2799715cc6fedbe9772cfb39054d965e701

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Full text

Beginning on the effective date of classification, an adequately capitalized new credit union must increase the dollar amount of its net worth by the amount reflected in its approved initial or revised business plan in accordance with § 702.204(a)(2), or in the absence of such a plan, in accordance with § 702.106 until it is well capitalized.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.