Simplification of Share Insurance Rules

October 25, 2023 Federal financial regulation, NCUA, Regulation lookup 0

Title:	Simplification of Share Insurance Rules
Subject:	Share insurance; trust accounts, MSAs
Agency:	NCUA
Status:	Proposed rule
Summary:	The NCUA Board (Board) is seeking comment on proposed amendments to its regulations governing share insurance coverage. The proposed rule would address the following items: simplify the share insurance regulations by establishing a “trust accounts” category that would provide for coverage of funds of both revocable trusts and irrevocable trusts deposited at federally insured credit unions (FICUs); provide consistent share insurance treatment for all mortgage servicing account (MSA) balances held to satisfy principal and interest obligations to a lender; and provide more flexibility for the NCUA to consider various records in determining share insurance coverage in liquidations.
FR Doc:	2023-23481
Date proposed:	Oct. 19, 2023
Comments due date:	Dec. 26, 2023
Effective date:
Rule compliance date:
Agency release:
Related Reg Report item(s):	Proposed changes in NCUA’s share insurance rule would clarify coverage, conform with FDIC coverage rules

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