§ 702.301. Authority, purpose, and reservation of authority.
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/us/cfr/t12/s§ 702.301·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Authority. This subpart is issued by the National Credit Union Administration (NCUA).
(b)Purpose. This subpart requires covered credit unions to develop and maintain capital plans and describes stress testing requirements and actions on covered credit union capital plans.
(c)Reservation of authority. Notwithstanding any other provisions of this subpart, NCUA may modify some or all of the requirements of this subpart. Any exercise of authority under this section by NCUA will be in writing and will consider the financial condition, size, complexity, risk profile, scope of operations, and level of capital of the covered credit union, in addition to any other relevant factors. Nothing in this subpart limits the authority of NCUA under any other provision of law or regulation to take supervisory or enforcement action, including action to address unsafe and unsound practices or conditions, or violations of law or regulation.
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§ 702.301
Authority, purpose, and reservation of authority.
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